$73m Tax Jackpot From Gambling

Tasmania - The State Government expects to reap $73.5 million in gambling taxes next financial year. The figure is a $5.5 million, or eight per cent, increase on the estimated $68 million raised by gambling tax this financial year.

The Budget papers show that casino taxes and license fees were the biggest contributors. The Government expects to raise more than $50.8 million from casino tax and license fees in the 2003-2004 financial year.

The figure, up from the $47 million expected to be generated by June 30 this year, reflects the recent deal signed by the State Government giving Federal Hotels a 20-year gaming machines monopoly. Federal will also increase the number of gaming machines under the deal.

Lottery tax in the next financial year is expected to reach $22.3 million, up from the $20.4 million expected to be generated by the end of this financial year. The only area of gambling tax revenue expected to fall is racing and general gaming, including bingo, raffles and Calcutta sweepstakes.

The fall reflects the continuing decline of the state's racing industry and the growing popularity of poker machines. The Government expects to receive only $279,000 in revenue from alternative forms of gambling, including racing, next financial year, down from $438,000 this financial year.