Salaries of CEOs at the biggest clubs in NSW can far exceed $1 million as their profits continue to rise.The clubs can claim a tax rebate if they spend a small percentage of their profits on activities to benefit the community.Pokie bosses are earning the same as university vice chancellors and about double the salary of the prime minister, following a tenfold increase in the salaries of chief executives to up to $1.5 million at the biggest clubs.
“Over the last 10 to 15 years, CEO salaries have just climbed and climbed and climbed and climbed, so you’ve got CEOs on $1.5 million, $1 million, $900,000, $800,000, $700,000, so what that means to the industry is if you’re rewarded handsomely and you get on well with the board, then you’ve got no reason to move on,” White said.White declined to comment.
Registered clubs are not-for-profit entities that can claim a tax rebate if they spend 1.85 per cent of their poker machine profits on specific projects that benefit their local communities.Gamblers lose nearly $4 billion in NSW clubs annually, and the gaming industry has recently come under scrutiny for acting as a vehicle for money launderers, who use poker machines to wash the proceeds of organised crime.
But Charles Livingstone, head of gambling research at Monash University, said the amounts donated to the community were miniscule compared with gaming revenue. In 2013-14, pubs and clubs made a combined $5.9 billion in revenue, which surged to $6.5 billion in 2018-19 due to technological advances and the advent of casino-style games – known as multi-terminal gaming machines – in clubs.Loading
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