Crown Resorts has remitted approximately $61 million in Australian dollars in taxes to the Victorian government, a sum they have already disclosed to the Victorian Gambling and Casino Control Commission (VGCCC). This remittance, determined by Crown Resorts, encompasses outstanding casino levies and supplementary interest on those levies.
The deficiency, amounting to roughly $37 million AUD, originates from the 2012 fiscal year and pertains to the methodology employed by Crown Melbourne’s electronic gaming machines (EGMs) in computing player reward points. As stipulated in an accord with Victorian regulatory bodies, Crown Resorts also consented to remit interest on any underpaid casino taxes. This interest, thus far, approximates $24 million AUD.
Crown Resorts acknowledged a prior assessment into the prospective underpayment of casino taxes in Melbourne. Upon the VGCCC’s finalization of its assessment, Crown Resorts’ casino tax standing will be revised. The assessment will encompass an examination of “match play”, a loyalty scheme that enables the exchange of Crown Rewards points for credits applicable to EGMs.
Subsequent to the concluding report from the Victorian Royal Commission, the VGCCC recommended that Crown Resorts finalize its deliberations concerning the potential underpayment of casino taxes.
Monarch Gaming is facing scrutiny for purported tax avoidance at its Melbourne gaming establishment. The corporation has initiated an internal assessment and pledged complete transparency with the Victorian Gaming and Spirits Regulatory Authority (VGSRA), the entity supervising the inquiry.
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