(Reuters) – Star Entertainment has inked a binding take care of the New South Wales (NSW) Treasurer beneath revised on line casino obligation charges framework, which might require it to keep up a minimal headcount at its Sydney operations, it mentioned on Friday.

Under the settlement, Star Entertainment would even be required to start a trial of cashless and carded play at its Sydney on line casino. That is a precursor to the reforms to be launched in August for cashless gaming and carded play in NSW.

“The Star has agreed to maintain a minimum headcount, and certain ratios of full-time, part-time and casual employees, in respect of The Star Sydney casino until 30 June 2030,” the on line casino operator mentioned.

Star Entertainment, Australia’s second-biggest on line casino operator, has seen its income erode because it confronted regulatory restrictions on its Sydney operations from mid-2022 in addition to stiff competitors from greater rival Crown Resort.

In August final yr, Star Entertainment secured concessions on on line casino obligation charges with the NSW state and has labored on a transition plan to stabilise its operations at its Sydney on line casino and curb additional job cuts.

“The Star appreciates the constructive engagement with the current NSW Government that has led to finalisation of an agreement that provides employment certainty,” Group Chief Executive Officer Robbie Cooke mentioned in a press release on Friday.

The on line casino agency, which has misplaced 83.6% of its market worth during the last two years, is buying and selling about 7% increased to date in 2024.

(Reporting by Sameer Manekar in Bengaluru; Editing by Anil D’Silva)