15 June 2005

Pokie revenue falling

15 June 2005 | johnboy

ABC Online is reporting that recent government policies have succeeded in reducing the amount of money going through poker machines.

You’d have thought we’d have seen this coming but this is going to have some big effects downstream. Particularly for sports funding.

Having never participated in pokie subsidised sport I can’t say I’m going to cry but there’ll be taxation losses in this as well.

I suppose the tax on stupidity was allways going to have its limits.

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bonfire4:23 pm 20 Jun 05

che – i dont think you mean ‘political parties’ i think you mean the labor party, the recipient of the canberra labor clubs donations.

johnboy9:12 pm 16 Jun 05

You can rely on the self-serving nature of our elected representatives.

che9:08 am 16 Jun 05

The legacy of Rosyln Dundas and the banning of $50 notes from ATMs in clubs has meant upto a 20% reduction in pokie profits in some places.

But don’t worry political parties have looked after themselves in these losses, by removing the requirement for clubs to provide an equal amount of donations to charities as they do to political parties. I wonder how much that move coast ACT charities?

Vic Bitterman10:56 pm 15 Jun 05

If the club’s pokie revenues didn’t eventually fall, then I’m sure the government of the day would have increased taxes, such that the same balance is achieved at the club level at the end of the fin year.

All govt’s are in an awkward position. They love the pokie taxes, yet they have to be shown as doing the ‘socially responsible’ thing and ‘crack down’ and introduce things like banning $50 and $100 notes from the machines.

Much can be said for cigarette taxes….

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