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Adding to the excitement of this 4.5-star hotel and apartment tower will be new restaurants and bar concepts, a recreation deck with ocean views and a resort pool for hotel guests. Expected to open in 2022, this 53-storey tower will herald the entry of the internationally-acclaimed Dorsett hotel brand to Australia – and the Gold Coast – for the first time. Casinos required to give regulators continuous and remote access to gaming data, as pubs and clubs have done for many years. “Through its historical casino reforms, the NSW Government has set its expectations around casino compliance and the NICC is equipped to meet them. A renowned gambling researcher says it is “appalling” the Palaszczuk government has not released key documents behind a new casino nearing completion on prime public land in the heart of Brisbane.
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The “core” of Queen’s Wharf Brisbane, described by the government as an “integrated resort”, was expected to open next year. In addition to the casino, it would include high-end retail, hotels, restaurants and a residential tower. Star Entertainment’s new casino forms a major component of the $3.6 billion Queen’s Wharf Brisbane project spruiked by the Queensland government for its economic benefits.
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Investors in Star Entertainment have felt the brunt of the Company’s misdeeds, seeing SGR shares plummet dramatically on open following the announcement of the potential reforms. Amounting to nearly 15% on Tuesday alone–on what was already considered a volatile stock, signals an uncertain future for shareholders who may now be considering what lies ahead. The Attorney said further reforms recommended by the Gotterson Report, including strengthening provisions to reduce gambling harm and money laundering, are continuing to be progressed. The reforms also pave the way for a transition to safe cashless gaming which will address some of the money laundering concerns identified in the Gotterson Review. “The reforms also remove any requirement for the Government to compensate casino operators for introducing stronger regulatory laws, as has been done in other states. On 5 April 2016, eligible shareholders were sent a letter together with a Share Retention Form or a Sale Instruction Form , and Terms and Conditions for the relevant share sale facility.
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A Tax Calculator is provided below to assist shareholders in calculating the Australian capital gains tax cost base allocation for Tabcorp shares and The Star Entertainment Group shares. The Tax Calculator is a general guide only and does not constitute tax advice. Shareholders should seek advice from an appropriate professional adviser on the tax implications of the Demerger based on their own individual circumstances.
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