{"id":8260,"date":"2021-09-21T00:00:00","date_gmt":"2021-09-21T00:00:00","guid":{"rendered":"https:\/\/www.mundovideo.com.co\/en\/asia\/tasmania-government-law-changes-will-cost-to-operators-18m-usd-per-year\/"},"modified":"2021-09-21T00:00:00","modified_gmt":"2021-09-21T00:00:00","slug":"tasmania-government-law-changes-will-cost-to-operators-18m-usd-per-year","status":"publish","type":"asia","link":"https:\/\/www.mundovideo.com.co\/en\/asia\/tasmania-government-law-changes-will-cost-to-operators-18m-usd-per-year\/","title":{"rendered":"Tasmania government law changes will cost to operators $18M USD per year"},"content":{"rendered":"<p style=\"text-align:justify\"><span style=\"font-size:12pt\"><span style=\"font-family:Calibri,sans-serif\"><span style=\"font-family:&quot;Arial&quot;,sans-serif\">Casinos Operators in Tasmania has claimed authorities did not appropriately inform the companies about changes to exclusive license agreement to operate electronic gambling machines (EGM) within two years.<\/span><\/span><\/span><\/p>\n<p style=\"text-align:justify\">&nbsp;<\/p>\n<p style=\"text-align:justify\"><span style=\"font-size:12pt\"><span style=\"font-family:Calibri,sans-serif\"><span style=\"font-family:&quot;Arial&quot;,sans-serif\">According to Federal group for example, the 2003 deed between the Crown and the company included a rolling term that guaranteed Federal Group would be provided with no less than four years&rsquo; notification of any changes to previous arrangements.<\/span><\/span><\/span><\/p>\n<p style=\"text-align:justify\">&nbsp;<\/p>\n<p style=\"text-align:justify\"><span style=\"font-size:12pt\"><span style=\"font-family:Calibri,sans-serif\"><span style=\"font-family:&quot;Arial&quot;,sans-serif\">According to this agreement, the earliest date the new gambling plans could be applied is July 1 2026, but Tasmania has said it plans to end the company&rsquo;s exclusive licence on July 1 2023.<\/span><\/span><\/span><\/p>\n<p style=\"text-align:justify\">&nbsp;<\/p>\n<p style=\"text-align:justify\"><span style=\"font-size:12pt\"><span style=\"font-family:Calibri,sans-serif\"><span style=\"font-family:&quot;Arial&quot;,sans-serif\">Federal Group said: <em>&ldquo;We would urge the Tasmanian Government to remove the proposed amendment&hellip; and to end the 2003 Deed of Agreementafterf the rolling term period &ndash; therefore honouring the terms of the 2003 deed.&rdquo;<\/em><\/span><\/span><\/span><\/p>\n<p style=\"text-align:justify\">&nbsp;<\/p>\n<p style=\"text-align:justify\"><span style=\"font-size:12pt\"><span style=\"font-family:Calibri,sans-serif\"><span style=\"font-family:&quot;Arial&quot;,sans-serif\">The company said the change could cost it almost AU$25m (US$18m) per year (around one-quarter of the AU$108m it produced during the 2019-2019 financial year).<\/span><\/span><\/span><\/p>\n<p style=\"text-align:justify\">&nbsp;<\/p>\n<p style=\"text-align:justify\"><span style=\"font-size:12pt\"><span style=\"font-family:Calibri,sans-serif\"><span style=\"font-family:&quot;Arial&quot;,sans-serif\">The Tasmanian Government said: &ldquo;<em>The legislation, which will be introduced into the Parliament later this year, implements the government&rsquo;s policy which was clear that the new arrangements would start in 2023 and Federal Group supported this policy at the 2018 election.&rdquo;<\/em><\/span><\/span><\/span><\/p>\n<p style=\"text-align:justify\">&nbsp;<\/p>\n<p><span style=\"font-size:12pt\"><span style=\"font-family:Calibri,sans-serif\"><span style=\"background-color:white\"><span style=\"font-family:&quot;Arial&quot;,sans-serif\"><span style=\"color:#333333\">No Copyright infringement intended. Video\/Photo Unknown Direct for credits\/issue or text us +57 3606412 &#8230;&nbsp;<\/span><\/span><\/span><span style=\"background-color:white\"><span style=\"font-family:&quot;Arial&quot;,sans-serif\"><span style=\"color:#333333\">| Respect to Photographers &amp; Influencer<\/span><\/span><\/span><\/span><\/span><\/p>\n<p style=\"text-align:justify\">&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Casinos Operators in Tasmania has claimed authorities did not appropriately inform the companies about changes to exclusive license agreement to operate electronic gambling machines (EGM) within two years.<\/p>\n","protected":false},"author":1,"featured_media":5597,"menu_order":368,"comment_status":"open","ping_status":"open","template":"","format":"standard","meta":{"inline_featured_image":false,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[],"tags":[4158],"class_list":["post-8260","asia","type-asia","status-publish","format-standard","has-post-thumbnail","tag-tasmania-gambling-licence","entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.6 - 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