Victoria, Australia Introduces Wide-Ranging Gambling Reforms, Leaves Crown Resorts Exempt
Victoria, Australia is poised for significant changes in its gambling landscape. The state plans to implement the "toughest gambling harm prevention and anti-money laundering measures in the country," excluding Crown Resort's Crown Melbourne.
Premier Dan Andrews is set to finalize these reforms, which will mainly target restaurants, bars, and pubs, omitting casinos. These modernizations are already sparking concerns about the future in the hospitality sector.
Key adjustments will strongly impact individuals' interactions with slot machines, or pokies, as they're commonly known in Australia. One significant change involves a drastic reduction in the daily limit, from AUD $1,000 (USD $1,467) to AUD $100 (USD $146). Mandatory pre-commitment limits will also be enforced, requiring gamblers to predetermine their daily, weekly, and monthly budget for gambling before they can even start playing. Additionally, a government-issued card containing these predetermined limits will be necessary, which ceases to function once the limit is reached.
Further changes include closing gaming venues during specific off-peak hours. From next year onward, these establishments will be required to shut down their slot machines between 4:00 AM to 10:00 AM to prevent gamblers from relocating to other venues and playing endlessly. Moving ahead, the slot machines' reels will also be made to move slightly slower, increasing from a two-second spin to a three-second spin.
These modifications will apply to all slot machines across Victoria, excluding those at Crown Melbourne. The casino operator now faces intense supervision due to its association with money launderers and criminals.
Andrews and Minister for Casino, Gaming and Liquor Regulation, Melissa Horne, announced the plan, but didn't reveal the exact timeline for implementation. They have first planned a thorough consultation with industry players before enforcing any changes.
Charles Livingston, the notorious gambling critic and an opponent of legal gambling in Australia, embraced the reforms. However, he urged the government not to consult with the industry before finalizing the changes.
Monday morning saw a major reaction from the industry players as Endeavor Group, one of the biggest pub owners in the country, experienced a significant stock drop. Its stock, which closed at AUD $6.26 (USD $4.26) on Friday, dropped to AUD $5.53 (USD $3.76), recording the largest single-day decrease this year.
Lara Sporting Club's General Manager, Brendon Chavasse, voiced grave concerns, warning that small, not-for-profit clubs will be disproportionately affected by the changes since they rely heavily on pokies to draw customers.
Victoria's gambling modifications may even lead to a domino effect, prompting nearby New South Wales to accelerate their reforms and transition to cashless gaming.
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Source: www.casino.org
