| Posted by: Burnt Toast at October 14, 2001, 6:44 pm | | Topic: Lasseters surrenders its online gaming license? Forum: Winner Online |
No impact at all.
Earlier this year, Lasseters merged with Gocorp, another online casino that was operating out of Queensland. As a part of that merger, Lasseters inherited Gocorps licenses.
Lasseters are licensed in the Northern Territory, which is where they are currently operating and have been operating for the entire time (the Northern Territory is also where the land based Lasseters Casino is based).
The reason for giving up the Queensland license was pretty simple I'd imagine - if they wanted to operate there, they would have to pay 50% tax on their profits, in the NT, they only pay 8%. The also have a license in Tasmania I think, which has a lower tax rate again (4%) - so there are no issues whatsoever for them lapsing on their Queensland license.
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| Posted by: The Original Mary at October 13, 2001, 11:56 am | | Topic: Lasseters surrenders its online gaming license? Forum: Winner Online |
At the end of the same article, you will find that they have just switched to a jurisdiction with a lower tax rate.
"All existing interactive gambling activities will operate under Northern Territory legislation, where the gaming tax rate is 8%."
I think the impact on players will be nil.
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| Posted by: cyclopes at October 12, 2001, 10:47 pm | | Topic: Lasseters surrenders its online gaming license? Forum: Winner Online |
Extract from gamblinglicenses.com
Australia - October 5, 2001: Online gaming group Lasseters Corp Ltd has surrendered its Queensland Interactive Gambling Licence after failing to seek a reduction in tax from the current rate of 50%. Lasseters - formerly Gocorp Ltd - won the licence in mid-1999.
what would be the ramifications for the players who are currently registered?
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