Australia's Crown Resorts pays $45mln to regulator in tax underpayment case

Crown said it would keep assessing the value that has been underpaid

  
The logo of Australian casino giant Crown Resorts Ltd adorns the hotel and casino complex in Melbourne, Australia, June 13, 2017.

The logo of Australian casino giant Crown Resorts Ltd adorns the hotel and casino complex in Melbourne, Australia, June 13, 2017.

REUTERS/Jason Reed

Australia's Crown Resorts Ltd said on Tuesday it had paid A$61 million ($44.86 million) as a fine for underpaying taxes at its Melbourne operations since 2012, as a broader inquiry that could see the casino operator lose its licence nears an end.

Crown said it would keep assessing the value that has been underpaid, adding that the Victorian Commission for Gambling and Liquor Regulation (VCGLR) would also provide a final amount owed to the state after its review is completed by Oct. 15. 

The amount declared on Tuesday includes a penalty interest of about A$24 million, the company said.

Victoria state last month gave additional time and funding to the Royal Commission that is probing Crown Melbourne to look into its corporate culture and claims of underpaid casino tax.

The Royal Commission, Australia's most powerful type of public inquiry, will ultimately determine if Crown can hold its Melbourne casino licence, while the company works towards getting its Sydney licence back.

($1 = 1.3598 Australian dollars)

(Reporting by Anushka Trivedi in Bengaluru; Editing by Ramakrishnan M.) ((Anushka.Trivedi@thomsonreuters.com; +918061823241;))


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