Australia’s Tabcorp said it expects an income tax benefit of about A$128.9 million ($102 million), which will be recorded as a significant item in its accounts ending June 2015, as a result of a settlement with the Victorian government over income tax.
The accord relates to the $597.2 million paid by Tabcorp to the state in in 1994 related to gaming and wagering licenses.
Tabcorp was given an allowable deduction of $429.6 million in the settlement, resulting in a capital loss of $167.6 million.
Tabcorp also confirmed its dividend payout for 2015 will be 90 percent of normalized profit after tax, excluding items.
This Dossier results from the “Life After POGOs” editorial project by Asia Gaming Brief which culminated with a pop-up digital forum on 9th December to discuss potentials ramifications in the industry.
Over the years, many of the answers have been remarkably prescient in their forecasts for the near-term direction of Asia’s gaming industry. However, we can safely say that no one came anywhere close to guessing
what 2020 may have had in store.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.