In this Discussion
- BobbyDavis November 2014
- brady November 2014
- Carlosa November 2014
- DamienWyer November 2014
- dungy November 2014
- goose November 2014
- IronMike November 2014
- RIO November 2014
- TheDiva November 2014
- thefalcon November 2014
- Thoroly_Bread November 2014
- tony November 2014
Who's Online
0 Members & 117 Non Members
Casino vs Racing
West Australian Racing
TheDiva
13,248 posts
Good to see the government are looking after Mr Packer. I just hope they are as willing and generous when the Racing industry sits down with them prior to selling off the TAB.
Racing and Gaming Minister Terry Waldron will this morning tell State Parliament that the tax Crown pays on profits it makes from so-called whales flown in from abroad will be cut from 11 per cent to 8 per cent.
In return, Crown will guarantee it will pay at least $45.25 million to the State Government over the next five years - well above the $37.4 million it paid over the past five years.
Negotiations between Mr Packer's gaming empire and the Barnett Government began two years ago after Crown watched its turnover from international high rollers fall dramatically.
In 2009-10, big-spending gamblers, mainly from China, gambled $12.4 billion at Crown Perth.
That figure plummeted to $8.2 billion 12 months later as Asian gamblers deserted WA in favour of closer casinos in Singapore.
Crown Perth clawed back its market share but it came at a heavy cost, with huge outlays on upgraded accommodation, jets, a yacht and opulent tours of the State to coax high rollers back.
Crown believes the lower rate of 8 per cent, which, with the Burswood Park Board levy of one per cent, brings the rate to 9 per cent, will allow it to match the incentives offered by casinos in Macau, Singapore and Las Vegas.
Crown Perth pays the WA Government about $120 million a year in tax.
Gaming machines attract about a 21 per cent tax rate and table gambling 18 per cent.
The high-roller levy in Singapore is 8.5 per cent and 10 per cent in Victoria and NSW.
Competition for international high rollers is intense and the whales often demand expensive perks and a rebate on their turnover in return for their custom.
It is a highly volatile market with low margins and one good year by punters can wipe out profits. "Crown Perth is an important economic contributor to WA not only in terms of tax revenue to the State but also employment and business opportunities for thousands of West Australians," Mr Waldron said.
Crown Perth declined to comment. Shadow gaming minister Mick Murray questioned the tax cut.
"It seems strange to be offering a tax break to a casino when the Premier is considering increased taxes and charges for everyone else," he said.
State Gives Casino Tax Break
The State Government is giving a tax break to Crown Perth so casino mogul James Packer can lure international high rollers away from Singapore's new gambling resorts and back to WA.
Racing and Gaming Minister Terry Waldron will this morning tell State Parliament that the tax Crown pays on profits it makes from so-called whales flown in from abroad will be cut from 11 per cent to 8 per cent.
In return, Crown will guarantee it will pay at least $45.25 million to the State Government over the next five years - well above the $37.4 million it paid over the past five years.
Negotiations between Mr Packer's gaming empire and the Barnett Government began two years ago after Crown watched its turnover from international high rollers fall dramatically.
In 2009-10, big-spending gamblers, mainly from China, gambled $12.4 billion at Crown Perth.
That figure plummeted to $8.2 billion 12 months later as Asian gamblers deserted WA in favour of closer casinos in Singapore.
Crown Perth clawed back its market share but it came at a heavy cost, with huge outlays on upgraded accommodation, jets, a yacht and opulent tours of the State to coax high rollers back.
Crown believes the lower rate of 8 per cent, which, with the Burswood Park Board levy of one per cent, brings the rate to 9 per cent, will allow it to match the incentives offered by casinos in Macau, Singapore and Las Vegas.
Crown Perth pays the WA Government about $120 million a year in tax.
Gaming machines attract about a 21 per cent tax rate and table gambling 18 per cent.
The high-roller levy in Singapore is 8.5 per cent and 10 per cent in Victoria and NSW.
Competition for international high rollers is intense and the whales often demand expensive perks and a rebate on their turnover in return for their custom.
It is a highly volatile market with low margins and one good year by punters can wipe out profits. "Crown Perth is an important economic contributor to WA not only in terms of tax revenue to the State but also employment and business opportunities for thousands of West Australians," Mr Waldron said.
Crown Perth declined to comment. Shadow gaming minister Mick Murray questioned the tax cut.
"It seems strange to be offering a tax break to a casino when the Premier is considering increased taxes and charges for everyone else," he said.
Comments
One glass of champers
One James boag light
42 dollars I kid you not
Racing for me tho crown has actualky improved into a top class entertainment venue in perth
Nobu in the day is great they give you a free day pass to the pool area to use when you want 49 dollar lunch two drinks an day pass to pool
Crown metropole market an co mon -fri top Nosh 13.95 Cant beat it nice atmos to take someone there
Good shits on nicks seafood lol
Racing's lack of credibility has caught up with it .
Government Decision is based on numbers and tax revenue casino wins every time !
The Casino provides a recreational activity that is used by tens of thousands weekly and attracts overseas visitors, so the government supports it.
Racing looks after old diehards, owners, ex-owners and their friends.. a couple of thousand a week and therefore gets no government (or very little) assistant.. Any government assistance would simply be seen as a hand out and wouldn't lift the engagement of the locals as a recreational activity.
In the past the races were a great recreational activity (before the casino) and all the punters went to bet (internet betting has them at home now). Now with the cost to run a horse, most horses are syndicated to many and therefore family and friends dont go like they used to cos even if the horse wins 5% (or in some cases 1%) of 30k, isn't really enough to shout your friends, let alone the whole bar and act a little foolish.
Yep racing HAD it all, and have only reacted to the changing market by asking RWWA and successive governments for more money!!!!!!
IT would surprise no-one (except the board of PR) that we are told to pi55 off and sort it out ourselves...
:(
how often do they run?
You need your pass to get on
Hence I was asking if there was a crown one door to door no change at burswood