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Star City deal on table

18 Jun 2007

NEW SOUTH WALES, Australia: "The State Government is hoping to reap hundreds of millions of dollars from a new deal with Star City Casino which would allow it to remain the only operating casino in NSW.

"Negotiations began last week between representatives of Tabcorp, Star City, the Treasury, and the Department of Gaming and Racing on a new agreement. A 12-year exclusivity deal worth $376 million for the Government expires in September.

"Sources close to the deal said 'everything' to do with Star City would be on the table, including exclusive rights to certain games and whether the tax rate on gambling earnings would remain at 24.5 per cent - lower than that paid by pubs and clubs.

"Also up for discussion is increasing Star City's gambling machines.

"...The exclusivity negotiations come amid suggestions that James Packer's Publishing & Broadcasting Ltd could be interested in setting up a casino in Sydney, the Hunter or the Tweed. A new casino licence could be worth up to $3 billion for the Government..."

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