Casino owner predicts: Retrenchment coming
ONE casino owner predicted yesterday that from January next year there may be retrenchment within the gaming industry as a result of yesterday's budget announcement which saw an increase in taxes paid on gaming tables and other devices.
Several casinos contacted yesterday afternoon remained tight-lipped about the future of their operations since the increases were announced.
Peter George of Sportsman's Club on Ariapita Avenue, Woodbrook said although he did not have full details of the new taxes, "I know an increase will definitely attack the industry. "How much will it attack the industry at this time I cannot tell but it may be serious enough that there may be some retrenchment of workers because of the new taxes."
George continued: "Now the taxes do not seem too punitive and is quite reasonable but one has to remember that it is a very competitive industry and the new taxes will certainly impact on our operations and the bottom line." He also explained that although the budget took effect from October 1, 2012 they will only feel the impact of the taxes when their gaming licences come up for renewal in January next year. –GG