In Australia and the government for the state of New South Wales has reportedly announced the introduction of a range of interim measures that have been designed to better regulate the local casino and gaming markets.
According to a report from Asia Gaming Brief, these new arrangements are set to come into force from next month in advance of a more wide-ranging program that is to ultimately lead to the regulation of casinos in the nation’s most populated state being taken away from the New South Wales Independent Liquor and Gaming Authority (ILGA) regulator and placed into the hands of a standalone body. The source detailed that this latter alteration is just one of 19 recommendations that was made by last year’s independent inquiry into operator Crown Resorts Limited led by former New South Wales Supreme Court Judge Patricia Bergin.
Facilitating focus:
In the meantime and the administration of New South Wales Premier Dominic Perrottet has reportedly explained that the Chairmanship of the ILGA is to become a full-time position so as to enable the holder of the currently part-time post, Philip Crawford, to increase the body’s overall commitment towards the regulation of casinos. The temporary measures are to purportedly moreover see the watchdog name a new board member with expertise in anti-money laundering programs while allocating additional resources to teams exercising its legislative functions and powers.
Adjacent action:
These moves from New South Wales reportedly come after the neighboring state of Victoria last summer pronounced that it would be establishing a dedicated watchdog for casinos and gambling away from the Victorian Commission for Gambling and Liquor Regulation. This new body, which is being christened as the Victorian Gambling and Casino Control Commission, is to furthermore purportedly have increased oversight powers alongside a bespoke unit to focus solely on the jurisdiction’s 1,604-room Crown Melbourne development from Crown Resorts Limited.
Sector segregation:
The government for New South Wales reportedly noted that it will additionally ask the ILGA to functionally separate its regulation of casinos from that of liquor and gaming while creating dedicated teams to oversee the former area. Officials purportedly divulged that the regulator will also be tasked with developing a revised memorandum of understanding with the anti-money laundering Australian Transaction Reports and Analysis Centre (AusTRAC) watchdog so as to strengthen their collaboration and information-sharing schemes.
Reportedly read a statement from Crawford…
“We need improved capacity now and that’s what these interim arrangements will provide for. The ILGA will use the new arrangements to further enhance its ability to identify and address organized crime in casinos and to expand its cooperation with the Australian Criminal Intelligence Commission, AusTRAC and the New South Wales Police Force.”