Slot Machines - News

Headlines About Slot Machines

Tabcorp and Tattersalls Angered by Tax

Tabcorp and Tattersalls were told recently that they would be having o pay more of their slot machine revenue with the state so that their hospitals could renovate and bring in new equipment. The two companies sat in for a 15 minute meeting with Treasurer John Brumby, who informed them of the increase in tax before announcing it to the general public.

Tattersalls boss Dick McIlwain said that the increase was a bad idea, as the Government is going to devalue the gaming licenses with this latest increase. Since 1999 the slot machine tax has increased 1200%. This is still a small portion of their proceeds, as Tattersalls brings in $263 per slot machine, per day – and the fee will only be $4333 of that.

Tabcorp’s CEO said that their shareholders were the ones who would ultimately suffer. They said that they are already looking at a decrease in profits because of the smoking ban that will go into effect in July, and this is just one more thing taking money from their pockets.

The issue is that when gaming licenses start expiring in 2012 that many may choose not to renew because of the fees that come with them. They say that the devaluing of the licenses will make people look elsewhere to run their casinos. They think that in the long run the fees that they are constantly charging will end up doing more damage than good. As if in concurrence, all companies’ stocks closed down after the announcement.

Back to April Index - Slot Machines Fan

Slot Machines

Slot Machine News

Slot Machines - Books