Increased returns to community from new gambling regulationsInternal Affairs
New regulations requiring gaming machine societies to increase the minimum they return to the community from Class 4 gaming machine (‘pokie’) takings come into effect on 4 September 2014, Internal Affairs Minister Peter Dunne announced today.
“The Gambling (Class 4 Net Proceeds) Amendment Regulations 2014 will increase the minimum rate of return from 37.12 per cent of gross proceeds to 42 per cent over five years, beginning in the first financial year after the regulations come into effect”, says Mr Dunne.
In the first financial year, the minimum rate of return will increase to 40 per cent of gross proceeds. In the third financial year after the regulations come into force, the minimum rate will increase to 41 per cent, and finally in the fifth year, it will increase to 42 per cent.
“Other reforms I outlined in May are subject to legislation currently before Parliament. These include new regulations that will require societies to return a minimum percentage of gaming machine proceeds in the same regional council area in which they were generated.
“These changes mean more of the proceeds derived from gaming machines, or ‘pokies’, will come back to the community to help fund a wide range of activities such as sports clubs, community events and community cultural and recreational facilities, activities and infrastructure that benefits everybody”, says Mr Dunne.