Australian gaming operator The Star has inked an agreement with authorities in New South Wales for revised tax rates, requiring both a jobs guarantee at its Sydney casino and a cashless and carded play trial.
According to a release by the company, the country’s second-largest casino operator will be required to ‘maintain a minimum headcount, and certain ratios of full-time, part-time and casual employees’ at The Star Sydney until June 30th of 2030. There can be, however, ‘certain permitted adjustments in certain circumstances’.
The deal was reached following consultation between the New South Wales government and the United Workers Union.
The Star had initially stated that proposed changes could cost up to $1.11 billion – furthering its financial woes amongst ongoing legal action against the company. The changes also led to the laying off of some 500 full-time employees and freezing of salaries to reduce costs.
Additionally, The Star Sydney will be required to introduce cashless gaming and carded play at 51 poker machines and eight table games as part of a formal trial before the state implements its new regulatory framework for casinos state-wide in August of this year.
The trial will apply to the ‘Sovereign Room’ at The Star Sydney casino.
Speaking of the deal with the New South Wales Treasurer, The Star Group CEO, Robbie Cooke noted “The Star appreciates the constructive engagement with the current NSW Government that has led to finalization of an agreement that provides employment certainty for our dedicated and hard-working team members in Sydney.”
The executive furthered: “As we continue to focus on earning back the trust of the community and implementing the reforms required to restore The Star to suitability, we are also committed to the continuation of our role as a valuable contributor to the NSW economy.”
The Star has lost significant market share since it was found to be non-compliant to certain anti-money laundering and Know Your Customer (AML/KYC) regulations at its properties, including Sydney – leading authorities to conduct a review of its suitability to hold a casino license, appointing a special council to oversee its operations in the meantime.
The Star Sydney was given a six-month deadline to in December 2023 to get back its gaming license or face closure.
Details on The Star’s new tax requirements can be found here.
