Posted: August 2, 2022, 7:35 a.m.
Last update on: August 2, 2022, 7:35 a.m.
Crown Resorts and Star Entertainment have forced big changes in the Australian approach to gambling. As a result, states across the country are introducing major reforms, with Victoria and New South Wales (NSW) leading the way.
Crown and Star are still reeling from investigations which have determined that the two casino operators have repeatedly breached financial and gambling laws. As a result, operators received probation and temporary license suspensions in different parts of Australia.
Now, in an effort to ensure that all gaming operators take their operations more seriously, new regulations are coming that are expected to alter the course of the industry for decades to come. Any failure on the part of the operator to follow the rules could have disastrous consequences.
Victoria sets new boundaries
In what Victoria’s Games Minister Melissa Horne calls a “world first in a series of reforms”, Victoria lays down the law. It introduces a series of measures that will force Crown to revamp its business model.
12 new initiatives are coming to Crown’s Melbourne casino, the only one in Victoria. Among these, according to ABC News, are enforced loss limits on casino electronic gaming machines. This applies to anyone visiting the casino, regardless of where they live in the country.
Crown has until the end of next year to introduce the controls that will allow players to set their limits. After that, however, he’ll have some flexibility to make sure everything is in place and working properly.
Currently, the casino does not use any type of forced loss limit. However, Charles Livingstone, a gambling researcher at Monash University, says implementing them won’t be a problem. He said a pre-engagement system is already in place in Victoria which will facilitate the introduction of mandatory checks.
In addition to the limits, players will have to limit their cash spending to 1,000 Australian dollars (692 US dollars) in a 24-hour period. This, the government hopes, will reduce the risk of potential money laundering. In addition, anything above this threshold, whether to play or receive winnings, will have to go through a card issued by the casino.
Crown’s antics in Victoria led to the creation of a new gambling regulator, the Victorian Gambling and Casino Control Commission (VGCCC), in the state. As a result, he will have to pay part of the operating costs of the regulatory body. In addition, the VGCCC recently launched a new investigation into the company’s activity, which could result in a fine of up to 100 million Australian dollars (68.25 million US dollars).
NSW follows suit
Much like Victoria, NSW is considering a new casino regulator. The NSW Independent Casino Commission (ICC) grew out of the actions of Crown and Star, both of which have casinos in Sydney.
The New South Wales government is finalizing approval of the authority the ICC will hold. A parliamentary vote on the subject will take place next week which will make the final decision.
Previously, NSW’s gaming regulator was the Independent Liquor & Gaming Authority. However, the state determined it needed a separate entity just for gaming because casino operators couldn’t follow the rules.
Crown and Star will have to cover the costs of ICC operations. The regulator will have autonomous control over the measures to be taken if an operator does not comply with the regulations. The various NSW police forces will assist him.
Just like in Victoria, the A$1,000 a day cash transaction will disappear. Likewise, it also means the introduction of mandatory use of cashless operations. This was already removed from the table before returning due to circumstances.
NSW concluded its investigation into Star in June. Then, it will present its final recommendations later this month.