2.0 Payment of Entitlements
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 VGCCC 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 | |