Casino gaming regulation underwent a massive overhaul in New South Wales after the state government passed the Casino Legislation Amendment Bill 2022 into law. The newly approved legislation creates a new regulatory body, the NSW Independent Casino Commission (NICC), whose task is to oversee the landbased casino sector.
More specifically, the new regulator will supervise Crown Resorts and The Star Entertainment Group. The two landbased operators were involved in a series of major scandals regarding their operations. They will now attempt to recover their reputation under the guidance of the newly created regulator.
The passage of the bill has finally allowed the new agency to take over the regulation of landbased gambling in New South Wales. The two casinos will now have to comply with stricter requirements in regard to anti-money laundering and outline the particulars of AML training for their staff members.
The New South Wales Department of Liquor and Gaming passes the baton to the NICC, which now has the remit to enforce the newly introduced regulations. According to NSW Liquor and Gaming, the new regulatory agency is granted “unprecedented powers” to supervise all gaming activities in the Australian state. Gambling businesses and individuals who violate the rules will suffer serious disciplinary action.
NICC to Examine the Findings of The Star and Crown Reviews
The first task of the NICC is to examine the findings of a probe into the operations of The Star Sydney, the second largest casino in the country. Said findings concern the AML practices at the venue as well as its connection to junket operators who were allegedly related to criminal organisations.
The NICC will have the final say in what type of regulatory action should be taken against the Pyrmont-based casino. The Star Entertainment Group also faces a similar probe in the state of Queensland.
In addition to this responsibility, the new regulatory body will also review the launch of gaming activity at Crown’s venue in New South Wales. Crown was also subject to several probes in recent years for reasons similar to those that prompted the inquiries into The Star. The New South Wales probes caused a delay in the opening of Crown’s casino at a new location in Sydney.
The operator was originally deemed unsuitable to hold a gambling licence but was eventually given the green light to commence gaming operations for VIP patrons last week. As Casino Guardian previously reported, Crown Barangaroo will concentrate mainly on servicing high-roller gamblers, offering them 30 private salons on its VIP-exclusive Mahogany floor.
Kevin Anderson, the NSW Minister for Hospitality and Racing commented the passage of the bill would usher in a new era in the way NSW casinos can operate. The new legislation will reset the local casino industry and ensure gambling businesses operate in line with the highest possible standards.
- Author
Daniel Williams
