A new era of Casino regulation
A new independent casino regulator is the centrepiece of the NSW Government’s landmark casino reforms to be introduced to Parliament.
Minister for Hospitality and Racing Kevin Anderson said the NSW Government will introduce a suite of tough new measures which deliver on the Government’s commitment to support all 19 recommendations of the Bergin Inquiry.
These measures will reform the casino industry, including establishing a NSW Independent Casino Commission (NICC) which will have enhanced and wide-ranging compliance and enforcement powers.
“A dedicated Chief Commissioner will be appointed to lead the NICC. They will be supported by up to four additional Commissioners, including at least one with specialist anti-money laundering expertise,” Mr Anderson.
A multi-agency coordination committee will be set up to oversee and guide the regulatory efforts of the NICC, and identify collaborations with police and the Crime Commission, in areas such as money laundering.
In addition to the NICC, the NSW Government will introduce a series of regulatory measures which directly address recommendations of the Bergin Inquiry including:
- A ban on casinos dealing with junket operators;
- An independent monitor and auditor for every casino licence holder appointed by the NICC;
- Requiring casino licence holders to submit suspicious activity reports to both AUSTRAC and the NICC; and
- Strict new requirements for casino operators to monitor patron accounts for criminal activity and perform due diligence on customers including identifying the source of player funds before they can gamble.
“These reforms will ensure the people of NSW have confidence that casino operations are free from criminal influence. We are rebuilding the regulatory framework for casinos in NSW from the ground up with stringent new controls to prevent money laundering and other criminal activity,” Mr Anderson said.
“The Government has made it clear that casinos in NSW must strictly comply with the reforms and operate with the highest standards of integrity. Anything less than 100 per cent compliance will not be tolerated.”
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