• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Victoria nods 17-year licence extension to Crown Melbourne

Oct 15, 2014 Newsdesk Latest News, Top of the deck, World  


Victoria nods 17-year licence extension to Crown Melbourne

The Victorian Parliament’s upper house approved on Tuesday the extension of the Crown Melbourne casino resort (pictured) gaming licence from 2033 to 2050.

The extension is part of a wider number of reforms that include the removal of the super tax on commission-based play for international and interstate VIP players from next year. The deal with the Victorian government had first been announced in August.

Crown Melbourne is the largest casino in Australia and is managed by Crown Melbourne Ltd, a unit of Australia’s Crown Resorts Ltd. Crown Resorts, headed by Australian billionaire James Packer, is one of the two controlling shareholders of Macau-based gaming operator Melco Crown Entertainment Ltd.

Victoria’s Casino and Gambling Legislation Amendment Bill 2014 also allows for more gaming tables and gaming machines across the floors of the casino.

The number of tables will increase from 400 to 440, but only 10 of the new tables will be allocated for VIP play. The casino operator will also be allowed to increase the number of fully automated table game terminals from 200 to 250. The property will also be able to add 128 new gaming machines to its floors.

The new agreement obliges the casino operator to make a series of additional payments to the state amounting up to AUD910 million (US$794.6 million) depending on the casino’s performance, by way of lump sum payments, instalments and additional tax revenue.

A controversial point in the amendment was the inclusion of compensation payable to the casino operator if gambling laws in the Australian state are tightened.

The compensation could be paid if the government removes or reduces the current exemption to a smoking ban within the VIP areas of the casino or if there is any adverse impact on earnings before interest, taxation, depreciation and amortisation (EBITDA) derived from a decision to reduce maximum bets on table games or to tighten rules on problem gambling.

The compensation will be calculated based on the annualised negative impact on the EBITDA, but will not exceed a cap of AUD200 million, according to the amended regulation. The maximum ceiling will be adjusted every year for inflation.

Greg Barber, member of the Victorian Greens in the parliament’s upper house, had called the compensation clause “absolutely extraordinary”, the Guardian newspaper reported. Mr Barber predicted that casinos in other Australian states would now push for a similar deal.

The parliament’s green light comes ahead of a general election in the state scheduled for November 29.


  • tweet
Related articles
  • Macau mass market over 79pct of 4Q casino GGR: govt
    Macau mass market over 79pct of 4Q...

    Jan 16, 2023  

  • Any go-ahead on Thai casinos may take 3 years: report
    Any go-ahead on Thai casinos may take 3...

    Jan 16, 2023  

More news
  • Return of tours good for mass floor traffic: observers
    Return of tours good for mass floor...

    Feb 03, 2023  

  • S.Korea casino op GKL’s January sales up 230pct y-o-y
    S.Korea casino op GKL’s January...

    Feb 03, 2023  


Latest News

Return of tours good for mass floor traffic: observers

Return of tours good for mass floor traffic: observers

Feb 03, 2023  

The imminent return of package tours from mainland China will not only help boost Macau’s tourism businesses, but is also expected to help casinos gain more foot traffic in their mass gaming...
Read More
S.Korea casino op GKL’s January sales up 230pct y-o-y

S.Korea casino op GKL’s January sales up 230pct y-o-y

Feb 03, 2023  

Aristocrat completes acquisition of Roxor Gaming

Aristocrat completes acquisition of Roxor Gaming

Feb 03, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”We are confident that the Philippine gaming sector will be able to fully recover, or even surpass its pre-pandemic earnings soon”

Alejandro Tengco

Chairman and chief executive of Pagcor



Most Popular

  • Jaw-dropping wagers in Macau CNY survey: CitigroupJaw-dropping wagers in Macau CNY survey: Citigroup February 2, 2023
  • Return of tours good for mass floor traffic: observersReturn of tours good for mass floor traffic: observers February 3, 2023
  • Galaxy Macau’s new arena to host K-pop group BlackpinkGalaxy Macau’s new arena to host K-pop group Blackpink January 9, 2023
  • Aruze Gaming America opts financial rejig after legal matterAruze Gaming America opts financial rejig after legal matter February 2, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us