In response to numerous violations unearthed by previous state inquiries, the Victorian government has announced new legislation that will implement unprecedented reforms for the region’s gaming operators, namely Crown Resorts and Star Entertainment.
In all, the state will enforce 12 new measures that were recommended from said inquiries, mostly centered around harm minimization and anti-money laundering efforts.
One of the most noteworthy new laws will make it mandatory for Australian patrons to set time or loss limits on gaming machines before playing, also referred to as “pre-commitment.” This is the first such policy to be implemented anywhere in the country.
Additionally, in order to help curb further money laundering violations, the state has imposed daily cash limits of AU$1000 (US$696) per bettor. Patrons must also receive casino-issued cards and show proof of ID in order to gamble or withdraw winnings in excess of $696.
Melissa Horne, the state’s minister for consumer affairs, gaming and liquor regulation, told Asia Gaming Brief that the legislation “is the next step in our national-leading reforms to ensure the disgraceful conduct uncovered by the Royal Commission will never happen again in Melbourne.”
In response to the announcement, Crown issued a statement saying that it “continues to work with the Victorian Government and the VGCCC on the implementation of the recommendations of the Victorian Royal Commission.”
According to the Victorian Gambling and Casino Control Commission (VGCCC), the state’s operators have already been told to hold just one bank account for bettors to deposit gambling funds. This is to prevent illegal transfers within and through casinos.
The reform was primarily aimed at Crown Resorts’ Crown Melbourne casino—even though the operator had its gaming license conditionally reinstated earlier this year after being acquired by Blackstone Group, the property is still on razor-thin ice, according to Horne. If the casino doesn’t exhibit substantial change, its license will be fully canceled in 2024.
As far as implementation, the rollout of the new laws will be gradual. The pre-commitment features on gaming machines need to be in place by the end of 2023, but the reforms aren’t expected to be fully implemented until 2025.
The VGCCC also announced that in the future, any investor or entity who wishes to own more than 5 percent of a gaming company will be subject to regulatory approval, to prevent instances of “operational interference.”
