• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Sunday 7 August 2022
    • 中文
    • 日本語
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • Vietnam
  • Events
  • Consulting
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • Vietnam
  • Events
  • Consulting
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

Crown Melbourne deducted AU$200 million in casino comps as player winnings to reduce tax

Ben Blaschke by Ben Blaschke
Tue 8 Jun 2021 at 05:10
Wynn terminates negotiations to take over Australia’s Crown Resorts

Crown Melbourne

74
SHARES
1.8k
VIEWS
Print Friendly, PDF & Email

A Royal Commission into Crown Melbourne’s suitability to retain its long-held casino license in Victoria was told Monday that Crown Resorts had avoided paying up to AU$200 million in taxes by classifying comps, including free parking, as gambling winnings.

Under Victoria’s Casino Control Act, Crown Melbourne is required to pay tax as a percentage of its gross gambling revenue (GGR) – calculated as gambling revenue minus winnings.

However, the Royal Commission was told by Crown Melbourne’s Executive General Manager of Gaming Machines, Mark Mackay, on Monday that the company had also included comps in its list of deductions, comprising everything from free parking to free hotel rooms, meals and loyalty rewards points given to members and special guests.

The exact amount of savings was calculated by Crown earlier this year at the request of Crown Melbourne CEO Xavier Walsh following a directive from the Royal Commission to provide any information that may constitute a breach of its Casino Control Act. However, after calculating tax savings of AU$167 million between 2014 and 2019 – and up to AU$200 million through to 2021 – Crown subsequently failed to pass the details on.

McKay told the Royal Commission on Monday that there was ambiguity in the definition of winnings contained within the Casino Control Act but agreed comps, which had been listed in company documents as “jackpot” expenses, “are not from a gaming machine event.”

The revelations on Crown’s alleged tax avoidance came just hours after the company had revealed via an ASX filing on Monday morning that it had received legal advice on likely breaches of the Casino Control Act at Crown Melbourne between 2012 and 2016 that had seen it process more than AU$160 million in gambling funds via credit or debit card processing.

According to Crown, the historical breaches involved the company receiving payment from debit or credit cards of international guests at Crown Melbourne’s Crown Towers Hotel, with the funds then made available to the patron for gaming at Crown Melbourne’s casino.

Under Section 68 of Victoria’s Casino Control Act, an operator is prohibited from providing money or chips for gambling as part of a transaction involving a credit or a debit card.

RelatedPosts

The Star Gold Coast targeting “as many hotel rooms as Marina Bay Sands”

The Star Gold Coast targeting “as many hotel rooms as Marina Bay Sands”

Fri 5 Aug 2022 at 06:35
Australasian Gaming Expo sets new attendance record with 9,009 visits in 2019

IAG to host regulatory, slots panel sessions at AGE Seminar in Sydney next week

Wed 3 Aug 2022 at 18:16
Star management said to have been furious at contents of 2018 audit report on junket, AML compliance

NSW casinos face fines up to AU$100 million under new regulator

Wed 3 Aug 2022 at 06:11
Longest serving PAGCOR chief Alicia Reyes dies aged 88

GGR at Philippines licensed casinos jumps 40% sequentially in 2Q22

Tue 2 Aug 2022 at 17:48
Load More
Tags: AustraliaCrown MelbourneCrown Resortsgross gaming revenueroyal commissiontax
Share30Share5
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial: Silver linings

Editorial: Silver linings

by Ben Blaschke
Thu 28 Jul 2022 at 22:31

Given the extensive coverage of Macau’s COVID-induced woes of late, it would be easy to fall into the trap of...

Macau has fallen

Macau has fallen

by Andrew W Scott
Thu 28 Jul 2022 at 21:02

It’s official: Macau is no longer the center of the casino gaming universe. The Macau dream is over – for...

Back with a bang

Back with a bang

by Ben Blaschke
Thu 28 Jul 2022 at 20:39

Having set new attendance records each and every year since relocating to ICC Sydney in 2017, the Australasian Gaming Expo...

Singapore sling

Singapore sling

by Ben Blaschke
Thu 28 Jul 2022 at 20:28

G2E Asia is back in 2022 and headed to a brand new home, albeit planned to be a temporary one,...

Related Posts

Levo Chan now largest single Macau Legend shareholder as David Chow sells down stake

Macau Fisherman’s Wharf staff say they have been sacked

by Pierce Chan
Sun 7 Aug 2022 at 18:54

Macau Fisherman’s Wharf employees have told IAG they have been sacked as a result of the business “streamlining” its structure. A text message sent by Fisherman’s Wharf to its staff, seen by IAG, reads, “In view of the ongoing streamlining...

IAG website asgam.com rolls out additional IT architecture over weekend, running faster and stronger

IAG website asgam.com rolls out additional IT architecture over weekend, running faster and stronger

by Newsdesk
Sun 7 Aug 2022 at 18:41

Regular users of IAG’s website asgam.com should be forgiven for suspecting Asia’s premier gaming news website is running much faster than usual from today – because it is. Since its launch 17 years ago in 2005, the asgam.com website has...

IGT, Scientific Games help boost AGEM Index in December

AGEM Index grows by 6.4% in July on Crane Co, Aristocrat stock increases

by Newsdesk
Sun 7 Aug 2022 at 18:16

The AGEM Index – a monthly stock performance guide comprising 12 global gaming suppliers – grew by 6.4% or 51.54 points to 862.93 points in July, with 10 of the 12 index companies reporting stock price increases during the month....

Korea’s Kangwon Land enjoys first positive revenue, profit growth in 10 quarters

Kangwon Land ordered to restrict players to 100 visits a year

by Ben Blaschke
Fri 5 Aug 2022 at 15:35

Korea’s Board of Audit and Inspection (BAI) has revealed a request has been made to Kangwon Land to restrict the maximum number of days any one customer can enter the casino each year to 100. Details of the request were...


IAG

© 2005-2022
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文
  • 日本語

No Result
View All Result
  • 中文
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Consulting
  • Magazines
  • Advertise
  • Contact
  • About

© 2005-2022
Inside Asian Gaming.
All rights reserved.

This site is registered on wpml.org as a development site.