Star Entertainment has inked a deal with the NSW government that blocks its soon-to-be rival Crown Resorts from installing poker machines at its new Sydney casino for the next 21 years | pwhatch
as it faces the prospect of opening its Barangaroo casino in February while cut off from international high rollers.
As part of a 20-year tax agreement, Star's table games will be set at a fixed rate of 29 per cent from 2022 - the same as Crown's - while pokies will start at a fixed rate of 32 per cent and increase to 34 per cent after six years. Those rates are higher than at Crown's casinos in Melbourne and Perth , and Star's casinos on the Gold Coast and Brisbane .
Mr Fabris said that if Star invited its highest spending gamblers, who typically spend around $1000 on average per visit, Star could generate revenue of $20 million in June to help cover its $20 million a month cash burn.
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