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Introduced in 1998, ClubGRANTS was designed to channel a share of gambling-linked profits from gaming clubs back into local communities. This includes health and welfare services as well as community development and sporting clubs.
According to the Gaming Machine Tax Act 2001, a tax rebate of up to 1.85% of a club’s gaming machine profits is made available to any registered club that records profits of over $1 million (US$715,000) during a tax year.
This is only possible if the club in question allocates at least 0.75% of prescribed profits over $1 million to community-focused activities and services. These profits make up two-thirds of the ClubGRANTS scheme funding.
About Shaolin Master
According to Kastukevich, Tech Race Summit is filling a genuine void. Although he has seen plenty of business-focused conversation in iGaming, there is almost no dedicated space for engineering and technology discussions.
The event is positioned as knowledge-sharing infrastructure for the industry rather than a SOFTSWISS sales platform. With SOFTSWISS positioned as host rather than presenter, the focus stays on where senior technologists think the industry should be putting its investment and attention over the next six to twelve months.
Dunn pointed out that ICE saw the same demand last year, with the Innovator Challenge alongside Microsoft and keynotes from the likes of AWS and Huawei.
About Shaolin Master
“The legislation mandated the regulation of the sector, which did not happen in the previous administration,” he explained. “We came into government with the sector operating for almost five years.
“We saw that they had entered football and advertising, and they have political and economic weight. Understanding that Congress would not prohibit the activity, we decided to put the brakes on and establish the rules.
“It’s not that I want to collect taxes because I need the money. I want to collect taxes for the sake of fairness: if a company sells cars, it pays taxes; if it sells drinks, it pays taxes. If it’s authorised to operate, it has to pay.”