Moreover, The Star Entertainment Group Limited is renowned for its impeccable entertainment offerings especially at its iconic facilities including The Star Gold Coast, Treasury Casino and Hotel and The Star Sydney. What is even more, the company also manages the popular Gold Coast Convention and Exhibition Centre for the Queensland Government.

Queensland Master Plan

As revealed by the company’s official several days ago, The Star Entertainment Group Limited remains focused on expanding its presence in Queensland. The company wants to invest around $1.4 billion to bring its Queensland master plan to life. According to reports by Inside Asian Gaming, the Australian local casino operator will not give up on its master plan for Queensland despite the fact it has failed to secure a thirty-year monopoly over the Queensland industry.

This thirty-year monopoly if granted would prevent the company’s rivals from constructing and running a gambling-friendly casino resort in Gold Coast. Today, The Sydney-listed gambling and entertainment company is responsible for the iconic The Star Gold Coast fully integrated casino resort which opened its door to the public back in February of 1986.

Situated in the city of Gold Coast, The Star Gold Coast was the very first venue of this kind to open in Queensland. Formerly known as Conrad Jupiters, the portion of the venue’s gross gaming revenues go to the Gambling Community Benefit Fund that was established back in 1987. The luxurious seven-acre resort boasts eight bars, conference venues, restaurants, a massive ballroom, gym, spa as well as a 65,000 square feet casino floor and five hundred and ninety-two rooms.

Back to The Star Entertainment Group Limited’s three-level master plan for Queensland, the government of Queensland had almost dismissed the company’s calls to be granted the desired monopoly license. According to several reports, the government is also rather unsure whether to approve the company’s submission to bring another fully integrated casino resort to Queensland’s second-biggest city.

Consensus Not Reached

The Sydney-listed company had sought the desired thirty-year monopoly from the government in exchange for spending around $1.4 million which would go to its Gol Coast property in the form of new hotel towers. The company also planned to modernize the Gold Coast Convention and Exhibition Center if granted in exchange for being granted the monopoly.

Nonetheless, the Innovation and Tourism Industry Development department had not been able to reach any kind of consensus with the Sydney-listed company since the company’s monopoly deal failed in several aspects such as stacking up taxpayers.

At the same time, the Queensland Innovation and Tourism Industry Department decided to give up on its Global Tourism Hub master plan which initially included the licensing for the city of Gold Coast’s second fully integrated casino resort. Despite heavily shaken global market conditions, The Star Entertainment Group Limited will push ahead with its master plan scheme for Queensland so it one day develops its second casino resort planned for the city of Gold Coast.

The post The Star Entertainment Group Limited Wants to Bring Another Casino Resort to Queensland appeared first on GamblersNews.

The Brisbane-based company used one of its latest official press releases to share more details about its new tax regime which as revealed was signed with the New South Wales government. In this particular press release, the company’s official said that its Sydney-based enterprise will pay a 27.5% tax on its gross gaming revenues generated on gaming tables up to around $529 million. This old regime remains active until the end of June 2021 when the company transitions to its new fixed 29% tax rate on its mass-market revenues on gaming tables.

The Star Entertainment Group Limited and The Star Sydney

As previously mentioned, The Star Entertainment Group Limited is a prominent Australia-based entertainment and gambling company with several iconic properties that the company operates across Australia. The firm was founded nine years ago in 2011 in Brisbane where its main office is still located. In addition to operating The Star Sydney and The Star Gold Coast venues, The Star Entertainment Group Limited also operates the Gold Coast Convention and Exhibition Centre.

The company’s The Star Sydney venue, formerly known as Star City Casino, located in Sydney opened its doors on the 13^th of September in 1995. The venue is the second-largest casino facility in Australia after the iconic Crown Casino property located in Melbourne. The Star Sydney is packed with not one, but two massive gaming floors, seven restaurants, eight bars, three hundred and fifty-one hotel rooms as well as one hundred and thirty hotel suits. Besides, the property is also home to the two thousand-seat Sydney Lyric theater.

When it comes to its gaming operators, all of them are controlled and overseen by the New South Wales Casino Control Authority. Back in 2007, the casino within The Star Sydney was granted a twelve-year extension of the venue’s license and exclusivity which was extended for twenty more years recently. Speaking of the venue’s two gaming floors, they are packed with loads of traditional casino games including Sic Bo, Three Card Poker, Pai Gow Poker, Blackjack, Roulette, Baccarat, Caribbean Stud Poker as well as hundreds of slot machines.

The Star Entertainment Group the Exclusive Provider of EGMs

In one of its latest press releases, the company’s officials also shared that the company’s new twenty-year tax deal will leave the related duty on gross gaming revenues from the company’s domestic and international gaming tables unchanged at fixed 10%. Moreover, the company’s officials also revealed that the main goal in the near future is to see The Star Entertainment Group Limited becoming the exclusive provider of EGMs or electronic gaming machines in Sydney.

This would be a huge blow to the soon-to-open Crown Sydney venue which is owned and operated by the Crown Resorts Limited company that is one of the biggest competitors to The Star Entertainment Group Limited. Furthermore, the company also explained that net revenues from those one thousand and five hundred electronic gaming machines within its properties will be taxed at a fixed rate of 32% for the three following years starting from June of 2022. After June of 2020, these net revenues from electronic gaming machines will be subjected to a slightly higher 33% tax rate.

The post The Star Entertainment Group in Australia Signs New Twenty-Year Tax Regime appeared first on GamblersNews.