New gambling regulations in sight for state of Victoria

Casinos in the state of Victoria will face new regulations. These regulations are mainly to prevent problem gambling and to protect the players. Crown Casino Melbourne will also have to implement these responsible gaming regulations as soon as they are implemented by the Victorian Parliament.

The Casino Legislation Bill for 2002 delivers recommendations for regulations that should be implemented by the Crown casino in Melbourne. The focus will be mainly on harm minimization, money laundering and problem gambling. Moreover, regulations should bring more oversight of the gambling in the Crown casino and the players that are visiting the Crown.

The following key points are the most important changes in regulations:

• Identification checks for players wanting to gamble.
• Cash usage limitations to AU$1,000 per day.
• Identification for winnings over AU$1,000.
• Time limits on playable hours (for pokies)

For investors, stakeholders and shareholders there are also new regulations that they will be facing. When an investor or shareholders considers to get a 5% or more ownership of a casino operator, the person or company should gain approval from the Victorian Gambling and Casino Control Commission.

Minister Melissa Horne, Minister of Consumer Affairs, Gaming and Liquor Regulations about these new recommendations by the commission: “We are holding Crown Melbourne to account and delivering on an additional 12 recommendations – targeting money laundering and harm minimisation – to implement every one of the Royal Commission’s recommendations.”

The government will only provide the Crown Casino with only one chance to get back its casino license and to gain full confidence from the Gambling Commission. Which means the casino license might get cancelled in 2024 if the responsible gaming and anti-money laundering measures are not up to par.