by the New South Wales government to raise taxes on casino poker machine operators. Sydney is the capital of the state.
"Tax resolution with New South Wales government remains the key catalyst for investors," Jefferies analysts said in a note. The casino operator also wrote down the goodwill of its Sydney casino in the first half, from A$851 million to zero. It said it would suspend dividend payments as it tries to reduce its debt and its casino licences were in full operation.
The firm, however, posted A$43.6 million in normalised net profit after tax, versus A$73.7 million in losses a year ago.Reporting by Scott Murdoch in Sydney, Riya Sharma and Savyata Mishra in Bengaluru; Editing by Himani SarkarScott Murdoch has been a journalist for more than two decades working for Thomson Reuters and News Corp in Australia. He has specialised in financial journalism for most of his career and covers equity and debt capital markets across Asia and Australian M&A.
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