Wednesday 11. November, 2015

International High Roller Spending Jumps at Crown Perth

Crown Perth Casino has recorded massive spending from their international high rollers, in the same year as the WA government provided the company with a tax cut in order to boost their competitiveness in the industry.

The company recorded earnings from their international high rollers of $249 million, an extra $76 million or 44 percent higher than the $173 million they earned in the past financial year. According to Crown Resorts’ annual report, total gaming revenue was $747 million, a growth of 13 percent year on year.

However, from December 2014, the WA government cut the international commission business tax from 11 percent to 8 percent which resulted in them collecting less tax on this revenue growth than they would have otherwise. In fact, according to the Department of Racing, Gaming and Liquor, Crown Perth only paid a total of $113 million in casino tax for 2014-15.

This figure includes the international commission business tax, the total amount of which the department would not reveal, but does not include the reimbursements that were made to the casino on account of the cut in taxes and for GST.

Without any reimbursements, the Gaming and Wagering Commission of Western Australia reported that Crown paid an additional $2 million or 1.85 percent in taxes compared to the previous financial year, despite its impressive revenue growth.

Crown Perth continues to attract international VIP high rollers with the Macau Billionaire Poker (MBP) Group having recently announced two big buy-in events that it is planning at the Crown Perth in December. The series will be known as the 2015 MBP Crown Perth Super High Roller and will feature $50,000 and $100,000 buy-in events running over 3 days. The five events on the schedule will run from December 11 to 13, 2015.

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