Crown agrees licence reforms

Crown says the changes will improve the competitiveness of its Crown Melbourne integrated resort as a tourism destination.

The reforms include the extension of the licence from 2033 to 2050, the removal of a ‘super tax’ on international and interstate VIP program play in FY15, and the increasing of the number of gaming products Crown can install.

Crown will make a series of payments to the state, including A$250m once the amendments become effective, A$100m in FY23 if the normalised gaming revenue at Crown Melbourne grows by more than 4.0% per annum (compound) over the period FY14 to FY22, and an additional A$100m in FY23 if it grows by more than 4.7% per annum over the period. Crown will also make a payment of A$250m in 2033.

Crown Resorts chairman James Packer said: “Crown has for a long time been at a major competitive disadvantage on the issue of taxation. Now, with the support of the Victorian Government, we will have a licence that enables us to compete on a level playing field to help drive tourism, jobs and economic benefit for the state.”

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Gareth Bracken

Journalist

Gareth Bracken is an experienced gaming journalist and editor who spent more than six years with Players Publishing, progressing through a range of senior editorial roles across its flagship titles, including Gambling Insider. He joined the company in 2010 as an Editorial Assistant before advancing to Staff Writer, Senior Staff Writer, Editor, and later Senior Features Writer.

Between 2011 and 2016, Gareth played a central role in shaping editorial output across print and digital platforms, producing in-depth features, news coverage and long-form analysis on the global gambling and iGaming industries. As Editor from September 2014 to October 2015, he oversaw content strategy, editorial standards and production workflows, helping guide the publication’s development as a leading B2B industry voice.

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