Australian POC Taxes Could 'Take Out' Online Gaming EBITDA

Point of consumption (POC) taxes imposed by Australian state governments on wagering revenue are going to “take out the entire EBITDA of the sector” and represent a “once-in-a-generation change” to the wagering industry’s cost base, a veteran gaming analyst has warned.

With the patchwork quilt of POC tax rates close to settled across Australia’s states and territories, and limited prospects of a nationwide flat rate growing dimmer as implementation begins, some lower-tier, undifferentiated online corporate bookmakers face closure or consolidation, said UBS equity analyst Matt Ryan on Wednesday.

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