Gaming Machine Entitlements / 2.0 Payment of Entitlements

2.0 Payment of Entitlements

Venue operators were provided with the option of entering into a deferred payment schedule for gaming machine entitlements that were allocated in 2010.
Venue operators that entered a deferred payment schedule are required to meet minimum payment terms for their entitlements.

If a venue operator fails to comply with the minimum payment terms:
a) interest becomes payable on any overdue amount; and
b) the entitlements may be forfeited back to the State.

Venue operators are able to pay for entitlements early without penalty.

Minimum Payment Terms for Club Entitlements
The Entitlement Related Agreement for Payment specifies the minimum payment terms that a venue operator must comply with consisting of 20 instalments:

the first instalment of 5% was payable within 28 days of the close of the Gaming Auction. Any default bond may be offset against the first instalment.
a further instalment of 5%, payable on or before 5pm, 16 August 2012 (operational commencement date)
18 quarterly instalments of 5% are payable on or before the last day of every third month following the date from which entitlements can be used to operate machines (instalments 3 to 20).

Minimum Payment Terms for Hotel Entitlements
The Entitlement Related Agreement for Payment specifies the minimum payment terms that a venue operator must comply with consisting of 18 instalments:
  • the first instalment of 10% was payable within 28 days of the close of the Gaming Auction. Any default bond may be offset against the first instalment.
  • a further instalment of 10%, payable on or before 5pm, 16 August 2012 (operational commencement date)
  • 16 quarterly instalments of 5% are payable on or before the last day of every third month following the date from which entitlements can be used to operate machines (instalments 3 to 18).

Payments must be made to the VCGLR per the payment schedule below
Club Entitlements
Hotel Entitlements
16/08/2012
16/08/2012
30/11/2012
30/11/2012
28/02/2013
28/02/2013
31/05/2013
31/05/2013
31/08/2013
31/08/2013
30/11/2013
30/11/2013
28/02/2014
28/02/2014
31/05/2014
31/05/2014
31/08/2014
31/08/2014
30/11/2014
30/11/2014
28/02/2015
28/02/2015
31/05/2015
31/05/2015
31/08/2015
31/08/2015
30/11/2015
30/11/2015
29/02/2016
29/02/2016
31/05/2016
31/05/2016
31/08/2016
31/08/2016
30/11/2016
28/02/2017