The NSW government has thrown Sydney's Star Casino a lifeline in what it says is a bid to save thousands of jobs. The former state government had planned to raise the Star's tax rate on poker machines duties to reduce problem gambling and raise revenue, but the treasurer says the government is now overhauling the arrangement to keep Star from closing down altogether.
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00:00 It was decried as being flawed and unviable by Star Casino, the company it was due to
00:07 affect.
00:08 Now, the NSW Government has delayed full implementation of its poker machine tax hike until 2030,
00:15 with transitional arrangements in place till then.
00:18 Doing the heavy lifting?
00:19 A new levy on profits.
00:21 The new arrangement will see the introduction of a transitional levy for the next seven
00:25 years.
00:26 The NSW Government is predicting that will generate $2.7 billion over the next decade.
00:32 Star will be required to pay more tax as their revenue goes up.
00:38 The Greens don't like those odds.
00:40 He's predicting this money that will come in on the basis of Star doing well.
00:45 That's not good enough for NSW.
00:48 The Opposition's accused the Government of being soft on gambling reform.
00:52 They promised to do something and what they've done is to reward their union mates and give
00:57 the big casino a big tax break.
00:59 You can't collect tax from a dead business.
01:02 The move's also shocked and disappointed one anti-gambling campaigner.
01:06 This says that Chris Mins is really captured and the Labor Party by gambling interests.
01:12 Under the deal, all gaming machines at Star will go cashless by September next year.
01:17 It'll also ensure at least 3,000 jobs between now and 2030.
01:21 Stress levels, anxiety levels were enormous right throughout the property for all departments
01:27 and all team members.
01:30 The uncertainty of it all was very worrying.
01:32 Star Entertainment Group is still trying to repair its reputation after being fined $100
01:37 million and having its casino license suspended over money laundering.
01:42 It'll be hoping this reprieve gives it more time to recover from what's been a tumultuous
01:47 few years.
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