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NSW to Reform Casino Tax Rates
Casino tax arrangements will be reformed by the NSW Government to help fund vital services.
The proposed increases are anticipated to commence on 1 July 2023 and include tax rates on what the casinos earn from gaming tables and poker machines. They are forecast to raise an additional $364 million over the next three years.
Treasurer Matt Kean said the changes will support the State’s fiscal sustainability as it continues to invest in communities recovering from the unprecedented impacts of COVID-19, bushfires and floods.
“It’s important that casinos pay their fair share of tax. These reformed tax rates will replace the existing regime under which casinos pay less tax on poker machines than hotels and clubs,” Mr Kean said.
“These changes will ensure that the casinos continue to make an appropriate contribution to the community and support the delivery of vital Government services.”
Mr Kean said casinos provide employment and entertainment for thousands of people across the State and these changes will support their ongoing contribution to the NSW economy.
The updated poker machine rate will bring NSW into line with Victoria, following recent reforms to casino taxation arrangements announced in the 2022-23 Victorian Budget.
The NSW Government, through the Responsible Gambling Fund, is spending $33 million in 2022-23 to support people experiencing gambling harm, educating the community on the risks of gambling and investing in research to better understand gambling behaviour. The 2022-23 NSW Budget committed to allocating an additional $5 million per year to the Responsible Gambling Fund, increasing in line with inflation.
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Quantum continues expansion streak with two director-level new hires
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One of betting and gaming’s best-known customer acquisition and comparison businesses, Quantum, has announced the next steps in its ambitious growth plan by welcoming two new director-level appointees.
Joining the business are Dimitris Papamichael as commercial director and Luke Watkin as marketing director – both in newly created roles. They come in alongside a full C-suite and a full team of new tech hires that continues a recruitment drive which began in 2023 – and reflects Quantum’s rapid and consistent growth throughout the last five years.
Papamichael will be responsible for all revenue-generating activities across the business in a pivotal leadership role. He’ll shape Quantum’s commercial strategy as the company diversifies into new verticals while maintaining its strong position in the iGaming sector. He’ll also lead an expanding team of commercial and sales managers.
Watkin will lead the development and execution of the marketing strategy across all business verticals. As marketing director, he’ll be instrumental in shaping Quantum’s marketing vision, building scalable systems, and delivering commercial impact as it expands into new markets. Watkin will build and mentor a high-performing marketing team and is also tasked with driving further recruitment.
Speaking of the appointments and new strategic direction, CMO James McCarthy said: “It’s a pleasure to welcome Dimitris and Luke to Quantum during what is undoubtedly a really fascinating time in our growth. From cementing our relationship with some of iGaming’s biggest names to helping us expand into exciting new sectors, both of our new Directors will be integral to the continued success of the business.”
Papamichael said: “I’m thrilled to be joining Quantum at such an exciting stage of its incredible growth journey. The company has already achieved so much, and there’s huge potential ahead as we expand into new markets and sectors. I can’t wait to work with the exceptionally talented team here to seize the many opportunities ahead and drive the next phase of growth.”
Watkin said: “I am delighted to join a business with such a proven track record of excellence in its core markets, as well as highly ambitious plans for strategic expansion into new markets and territories. I am looking forward to contributing towards building on the exceptional progress the team has made to date, and accelerating that growth in the years ahead.”
This people news comes hot on the heels of the company’s exciting rebrand news of last week, moving toward the “quantum” in QiH Group” as well as redefining the business’ purpose and strategic direction.
The post Quantum continues expansion streak with two director-level new hires appeared first on European Gaming Industry News.
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FLY AWAY TO FORTUNE WITH ZITRO’S “RAINBOW BIRDS”
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The post FLY AWAY TO FORTUNE WITH ZITRO’S “RAINBOW BIRDS” appeared first on European Gaming Industry News.
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PHP13 MILLION UP FOR GRABS IN PAGCOR’S LINKED BINGO EVENT
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The post PHP13 MILLION UP FOR GRABS IN PAGCOR’S LINKED BINGO EVENT appeared first on European Gaming Industry News.
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