Your Daily Asia Gaming eBrief: The Star boosted by tax increase delay

Wednesday 21st of June 2023

Good Morning. The Star's efforts to halt a tax increase in New South Wales have gained temporary ground, as authorities delay its implementation amongst company warnings it would cost thousands of jobs. In Korea, Shin Hwa World has announced that its controversial Chairman will be stepping down after already being suspended since November. And in Malta, iGaming NEXT Valletta kicks off, with a packed schedule and dozens of speakers.

ASEAN Gaming Summit, asia gaming ebrief, Philippines

What you need to know

Australian authorities are delaying a tax increase, in a boon for The Star, which claims it would cost over 4,000 jobs.
The controversial Chairman of Shin Hwa World is stepping down from his role, with the company searching for a replacement.
iGaming NEXT Valletta kicks off, with a strong focus on new markets and the impacts of artificial intelligence.

On the radar

SJM transfers 1k employees to non-gaming roles.
TCS John Huxley supplying gaming equip't to CoD Mediterranean.
G2E Asia ramping up for dual event with Asian IR Expo in Macau.
Credit Suisse upgrades Melco Resorts' rating on positive catalysts.

AGB Intelligence

AUSTRALIA

NSW authorities delay tax increase, boon for The Star

Efforts by Australian gaming operator The Star to halt or slow a tax increase in New South Wales appear to be bearing fruit, as the authorities are delaying the implementation initially slated for July 1st. The group threatened that the move could endanger 4,000 jobs in Sydney alone, as well as its likelihood to survive its financial woes. However, the $168 million sale of its Treasury Casino and Hotel has fallen through.