Are you aware that mainland communist China last week lifted its ban on tour groups departing for Australia, UK and a small number of other nations?
This over time will see numbers rise, although I agree inbound international tourism is quiet (at only c.55 per cent of 2019 levels).
Last I read, Victoria has only about half the number of international students it had in 2019 (although Melbourne's CBD s busy with them: WOW supermarket downstairs in the QV Centre, Lonsdale and Swanston Streets, is a case in point).
The Victorian state Budget from May 2023 has this revenue forecast for each of the four FYs from 2023-24 to 2026-27 inclusive:
18 Chapter 1 2023-24 Statement of Finances1.2.1 Taxation ($ million)2023-24budget2024-25estimate2025-26estimate2026-27estimate
TAXES ON TAXES ON THE PROVISION OF GOODS AND SERVICES
Gambling taxes (Public lotteries 674 695 716 738
Electronic gaming machines 1 382 1 429 1 461 1 494
Casino 207 213 219 223
Racing and other sports betting 303 462 479 497
Taxes on gaming are rising and there's CPI to consider as a comparator, but it's not as if Victoria's broke (and extremely woke) government predicts that gaming taxes will reduce to zero or anything approaching that.
Ann: F23 Results Investor Presentation, page-31
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