Star Entertainment (ASX:SGR) recently released an update regarding the duty rates for their New South Wales-based casino.

The company asserted its longstanding view that the state’s proposed duty increase was not financially sustainable.

The amendments that are currently being formalized aim to provide a sustainable outcome for Star Entertainment.

The company is also in the process of coming to an in-principle agreement to amend its duty arrangements with the NSW state.

These amendments are being designed to ensure job security for the company’s numerous employees based in NSW.

The company forecasts that the additional duty payable in the 2024 fiscal year will be approximately A$10 million.

Clearing any doubts regarding the casino duty rates will aid in facilitating the plans that had been suggested previously.

The agreement is expected to provide employment security for the company’s workers, with the specifics being agreed with the United Workers Union.

The long-form binding agreements to fully document the duty arrangements are expected to be completed in collaboration with the treasury.

Star Entertainment has plans to provide an update on the process of refinancing, in the coming month.

Furthermore, the agreement will initialize a trial of their cashless gaming machine technology in October, at Star Sydney.

Any uncertainty regarding the casino duty rates being resolved will expedite plans to refinance existing debt funding arrangements.

Star Entertainment is an integrated resort company.