Melbourne-based casino in James Packer’s Crown Resorts have asked the Victorian government for a 60-year license extension in return for a poker machine levy.
On the grapevine in Australian gambling news, the Crown Resorts in Melbourne, one of Australia’s largest gaming and entertainment groups, has been rumored to ask the state government for an extension in its casino license beyond its 2033 expiry date.
Australian gambling laws are very relaxed, allowing the individual states of the country to handle their own gambling laws, in fact, Australians view gambling as a recreational activity. As a result, there are a number of casinos and racetracks all over the country.
Crown Casino wants license deal with Victoria state government
Even though 2033 seems a long way in the future, the Crown Resorts are keen to get the 60-year extension, so much so, that they have offered the Victorian government a AUD 184 million poker machine levy.
The unexpected announcement of the Crown’s annual levy on its 2500 poker machines at the Melbourne casino led to a figure of AUD 22,715, which has formed a part of the state government budget update.
This new levy will cost Crown Resorts AUD 184 million over three years and a bit in the forward estimates projected by the government.
The state government commented that the levy was “subject to the satisfactory conclusion of negotiations and mutual agreement between the Victorian government and Crown to establish an outcome that delivers real value for both parties,” in a statement.