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The Perrottet government has unveiled a plan to phase out the use of cash in all poker machines across NSW. Here’s why taking this reform to the next election is such a big gamble.
Pub billionaire Arthur Laundy has been preparing for this day for more than 10 years. The Financial Review Rich Lister, worth $1.9 billion through his family-owned chain of pubs and hotels stretching the length of NSW, structured his business knowing in the back of his mind that regulations around poker machines could one day shift.
But now the Perrottet government has unveiled a pre-election plan to phase out the use of cash in all poker machines across the state and a $350 million package to help pubs and clubs cope with the transition, Mr Laundy is convinced that it’s the smallest players in the sector that will suffer most.
Mark Di StefanoColumnistMark Di Stefano is Rear Window columnist, based in the Sydney newsroom. He previously worked at BuzzFeed, the Financial Times and The Information before joining the Financial Review as a media and tech correspondent. Connect with Mark on Twitter. Email Mark at mark.distefano@afr.com
Samantha HutchinsonNational reporterSamantha Hutchinson is the AFR's National Reporter. Most recently, she was CBD columnist for The Sydney Morning Herald and The Age. Before that, she covered Victorian and NSW politics and business for The Australian, the AFR and BRW Magazine. Connect with Samantha on Twitter. Email Samantha at samantha.hutchinson@afr.com.au
