Crown Resorts Pays $61 Million Fine in Penalty Interest and Unpaid Tax

Crown Resorts Pays $61 Million Fine in Penalty Interest and Unpaid Tax

Crown Resorts has now paid approximately $61 million in unpaid taxes to Victoria and has notified the Royal Victoria Gambling and Alcohol Regulatory Commission (VCGLR). This amount, calculated by Crown, is the sum of the casino tax underpayment plus the additional fine interest.

Since fiscal 2012, unpaid casino taxes have amounted to approximately $37 million. This has to do with the erroneous deduction of bonus rewards offered to players in relation to Crown Melbourne’s electronic gaming machines. Crown has agreed to pay fine interest on non-payment of casino tax under the terms of a regulatory agreement with Victoria. The amount to date has been announced at around $24 million.

Crown Resorts cites previous review of Crown Melbourne’s possible underpayment of casino taxes. An update to Crown’s casino tax payment will be considered after VCGLR’s review is complete. The review includes an analysis of Matchplay, a loyalty promotion that uses Crown reward points as credit for future use on electronic devices.

After the Victorian Royal Commission delivered its final report, the VCGLR advised Crown to finalize its consideration of potential casino tax underpayments. The decision to delve deeper into Crown Melbourne’s corporate culture included allegations that Crown Melbourne underpaid its casino taxes.

Crown will comply with the VCGLR and cooperate with the review.

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