The Victorian government has announced a new program through which bars and Returned and Services League of Australia (RSL) chapters will be able to surrender their gaming machine credits and have the associated fees forgiven.
Per state law, venue operators may only offer gaming machines if they hold the requisite credits, which come with fees, as well as regulatory approvals. However, a large number of bars and RSLs have not been able to maintain their machines due to recent financial hardships.
As such, the new program is seen as a way for businesses to free up money to be reinvested back into various communities, and it will also take a large number of machines out of circulation, which will please responsible gaming advocates.
The government did clarify, however, that the debt forgiveness will only apply to venues that did not have regulatory approvals or have otherwise been rejected by the Victorian Gambling and Casino Control Commission or another local authority.
Other venues will be allowed to sell or transfer any unused credits, and fee payments may be adjusted if the owner can prove substantial financial hardship.
The government said the new program will take effect in July.
Melissa Horne, the state’s minister for casino, gaming and liquor regulation, said in a statement that the new program “is good news for clubs and RSLs who have entitlements they can’t use – it means they can put more money back into the communities they support.”
“We’re working with the VGCCC and local councils across Victoria to monitor the gambling sector when it comes to the operation of entitlements,” she added.
