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By Savyata Mishra
(Reuters) -Australia's Star Entertainment Group on Monday warned of an up to A$1.6 billion ($1.11 billion) impairment charge in first-half earnings from a proposed casino duty hike in New South Wales, sending its shares tumbling 22% to a record low.
The warning underlines the possible impact of proposed tax rate hikes on casinos in New South Wales, which has said the proceeds would be redirected to help communities affected by bushfires and floods.
The tax reform, which was ...
>>> Read more: Star Entertainment warns of up to $1.1 billion earnings hit, shares plumb record low
(Reuters) -Australia's Star Entertainment Group on Monday warned of an up to A$1.6 billion ($1.11 billion) impairment charge in first-half earnings from a proposed casino duty hike in New South Wales, sending its shares tumbling 22% to a record low.
The warning underlines the possible impact of proposed tax rate hikes on casinos in New South Wales, which has said the proceeds would be redirected to help communities affected by bushfires and floods.
The tax reform, which was ...
>>> Read more: Star Entertainment warns of up to $1.1 billion earnings hit, shares plumb record low
