Next page . . . . Previous page . . . . Speeches . . . . Contents . . . . Debates(HTML) . . . .

Legislative Assembly for the ACT: 1996 Week 12 Hansard (21 November) . . Page.. 4223 ..

Casino Canberra has estimated that by re-establishing junket operations and attracting individual high stake players, an additional $13.00m in revenue will be generated. This will result in an additional $1.3m taxation revenue to the ACT over a full year.

I realise that this estimate may be optimistic. However, I am prepared to assist any business to maximise its potential return without negatively impacting on other businesses in the ACT.

The Casino Control (Amendment) Bill 1996 redefines the regulation of junket type gaming with a more modern interpretation of this type of gaming, now defined as commission-based gaming.

Commission-based gaming provides for a broader interpretation of junket gaming activities. It allows the casino licensee to negotiate directly with a junket operator or with a prospective individual high stake player to offer concessions or inducements for their patronage at the casino.

The Bill allows the Minister to set the rate of tax paid on profits from commission-based gaming. It also repeals the sunset clause in the Casino Control (Amendment) Act 1994 that would otherwise discontinue the existing junket tax from 1 January 1997.

I commend the Bill to the Assembly.

Next page . . . . Previous page . . . . Speeches . . . . Contents . . . . Debates(HTML) . . . .