Tuesday, May 19, 2009

A-G to check casino's hand, by Stephen McMahon - Herald Sun - 19th May 2009

The Auditor-General will probe the deal under which Crown casino won an expansion of its gaming tables.

"(We have) asked the Auditor-General to probe the Crown deal, so taxpayers can learn the details of this deal which John Brumby refuses to disclose," Opposition Leader Ted Baillieu said yesterday.

The casino may pocket up to $320 million in profits from the deal, which will generate about $60 million for Victorian taxpayers.

The Government is under pressure to reveal whether it received independent advice on whether the deal delivers value for taxpayers over the next four years.

Based on an auditor-general's report on a similar deal in 1995, ANZ chief economist Saul Eslake told the Herald Sun the new deal, revealed just hours before the handing down of the federal Budget, could give the casino earnings of $239 million-$321 million, taking into account inflation over the past 14 years. (Credit: Herald Sun)

Media Man Australia Profiles

Crown Casino

Casino News

Australian Casino News