The New South Wales (NSW) government is set to introduce new legislation raising the maximum fine for operators of land-based casinos in the Australian state to A$100 million (£57.3m/€68.5m/US$69.7m).
The bill, which is due to go before parliament next week, will grant additional powers to the NSW Independent Casino Commission (NICC), allowing it to impose larger fines on casinos.
Other reforms to the law include regular reviews of casino licenses conducted as public inquiries with powers like a Royal Commission, but casino operators are required to comply with full disclosure of requested information. and notify NICC of any violation or potential violation of law. .
An independent compliance auditor is appointed to report to the NICC on casino operators’ compliance with their regulatory obligations, and casinos are also required to ensure that regulators have ongoing access to gaming data.
To help monitor and prevent financial crime, cash transactions above $1,000 per patron per day have been phased out and cashless gaming has been introduced to casinos.
It also introduces new requirements for applicants wishing to become close associates of casinos to prove their suitability, while expanding the scope of the legitimacy assessment of related entities of casino operators within the same group.
In addition, a multi-agency coordinating board with NSW Police and the NSW Crime Commission was established to guide NICC’s regulatory efforts and identify potential law enforcement cooperation in areas such as money laundering. increase.
“The reforms to be introduced in Parliament next week will implement all 19 recommendations of the Virgin Inquiry and take additional steps to strengthen casino compliance requirements, including several key recommendations from the Royal Commission of Victoria to Crown Resorts. ‘, said Minister of Hospitality and Racing Kevin Anderson.
“The new regulator will be truly independent, making independent decisions on licensing and disciplinary matters, and will be directly funded by the casino supervisory tax paid by both casinos.
“With all penalties under the Casino Control Act increased by at least tenfold, and new fines of up to $100 million for disciplinary action, the NICC has announced that various recent investigations have revealed There is room for serious misconduct of type to be dealt with appropriately.”
In May, the Queensland government also proposed strengthening laws against land-based casinos in the state. This includes raising the maximum fine to A$50 million. It also responds to inquiries into casinos from other states, with both Crown Resorts and Star Entertainment Group facing investigations. activity.
Also in June, the NSW government proposed new betting and horse racing laws. This classifies special odds and welcome offers as prohibited inducements to gambling.
The proposed gambling and horse racing laws make clear that gambling advertisements must not encourage people to gamble. Under these rules, welcome offers that require users to create accounts are prohibited. and the Liquor and Gaming Authority considers them to present “new opportunities for gambling-related harm”.
Similarly, the law also prohibits “special odds” for similar reasons.
In response to the latest set of proposals, Star Entertainment said it welcomed the plans and said it would support the government with the enhanced measures.
“Starr has previously expressed its support for the recommendations of the Bergin Survey. Starr will consider the details of the proposed reforms and their potential impact on operations as they become available.”
