Crown confident all tax underpayments identified ahead of closing submissions to Royal Commission

Diposting pada
1SHARES13VIEWS

Crown Resorts Ltd says it has not identified any further underpayments of tax after completing an internal review of all tax payments since 2012 ahead of todays closing submissions to Victorias Royal Commission.

The Australian casino giant announced last week that it had made an AU$61 million (US$45 million) payment to the states gaming regulator, the Victorian Commission for Gambling and Liquor Regulation (VCGLR), on 27 July 2021 comprising AU$37 million (US$27 million) in underpaid taxes since commencement of the 2012 financial year and another AU$24 million (US$18 million) in penalty interest.

The underpayment was, it said, related to the incorrect deduction of certain bonus rewards provided to patrons in connection with play on Crown Melbournes electronic gaming machines under its Matchplay loyalty promotion scheme.

On Monday, Crown announced it has now completed its review of other aspects of potential casino tax underpayments by Crown Melbourne referred to in the Victorian Royal Commission, including a review of Matchplay.

Crowns review has not identified any underpayments of casino tax other than as referred to in its announcement of 27 July 2021, the company said. As noted in that announcement, that underpayment of AU$61 million inclusive of penalty interest, was paid on 27 July 2021.

Crown added that its internal review took into account legal advice from Counsel Assisting the Victorian Royal Commission in relation to Matchplay, which had been provided with their closing submissions as presented on 20 July.

Those submissions saw Counsel Assisting the Royal Commission into Crown Melbourne, Adrian Finanzio SC, ask the Commissioner to find Crown unsuitable to retain its casino license on public interest grounds and due to breaches of Victorias Casino Control Act.

Crown will present its own closing submissions to the Royal Commission from 10am (AEST) today.

Former CEO and Executive Commissioner of Victorias state gaming regulator, Peter Cohen, recently told Inside Asian Gaming that Crown is no more than a 33% chance of retaining its casino license for Crown Melbourne in the wake of the Royal Commission.