Connect with us
SoftSwiss
Playson

Australia

AUSTRAC CEO Says Casinos Must Oversee Junket Compliance

Niji Narayan

Published

on

AUSTRAC CEO Says Casinos Must Oversee Junket Compliance
Reading Time: 2 minutes

 

Nicole Rose, CEO of Australia’s financial crimes watchdog AUSTRAC, has stated that it is the responsibility of casino operators rather than regulators to oversee the operations of junket operators operating within their gaming facilities.

According to a report by News Corp, Nicole Rose made the claim during a Senate estimates hearing at which she was quizzed by senators over issues around junket compliance in the wake of the recent NSW Independent Liquor and Gaming Authority (ILGA) inquiry into Crown Resorts.

“AUSTRAC does not regulate junket tour operators,” said Rose. “The onus is on industry to ensure it complies with its AML/CTF obligations. The Federal Court has also reiterated this view.”

Pressed on apparent gaps in the regulation of junkets in Australia, Rose said that “domestic regulation won’t address the issues” and that “the industry was well placed to manage and assess its own risks.”

Rose’s comments come after AUSTRAC announced in October the launch of a formal enforcement investigation into potential infringements by Crown of the country’s anti-money laundering laws and relating to “Crown Melbourne’s management of customers identified as high risk and politically exposed persons.”

The ILGA inquiry, which will determine Crown’s suitability to hold an NSW casino license for its AU$2.2 billion Crown Sydney development, has raised questions over the company’s due diligence processes in relation to its international VIP operations.

“From the casino’s perspective, all the front money comes from the junket tour operator and all the winnings go to the junket tour operator,” the report said.

“This means that all reporting on these transactions occurs only under the junket tour operator’s name and not the financial activity of the individual participants. This is a significant vulnerability for junket operations.

“While there was a theoretical acceptance that junkets may be exploited, it was AUSTRAC’s view that this possibility was not taken seriously.”

Australia

NSW Regulator: Crown Likely to Regain Sydney Licence This Year

Niji Narayan

Published

on

NSW Regulator: Crown Likely to Regain Sydney Licence This Year
Reading Time: < 1 minute

 

New South Wales chief gaming regulator Philip Crawford has said that the reinstatement of Crown Resorts’ license in New South Wales is a “realistic prospect.”

Since the ILGA officially declared Crown Resorts unsuitable to hold a state licence for its Crown Sydney casino, the casino operator has begun an attempt to put its ship in order to gain approval for the opening of the new casino.

Several board members have resigned, and Helen Coonan has stepped in as executive chairman on an interim basis replacing former CEO Ken Barton. It is now working to provide the ILGA with a written action plan.

The head of the New South Wales regulator, Philip Crawford, has said that Crown has made progress but needs to demonstrate complete rehabilitation to be found suitable to hold its licence.

Crawford stated: “Let’s be under no illusion, if I’m not satisfied, if the Independent Liquor and Gaming Authority’s not satisfied that they have rehabilitated themselves, they won’t be found suitable.”

However, he also noted that the reinstatement of the licence in the second half of this year is a “realistic prospect.”

Blackstone Group has made an unsolicited non-binding offer to acquire all remaining shares in Crown Resorts for AU$11.85 cash per share.

However, Blackstone Group’s proposal is subject to several conditions, including arranging debt finance.

Continue Reading

Australia

Victorian Govt Funds Six Research Projects Studying Gambling Behaviours During COVID-19

Niji Narayan

Published

on

Victorian Govt Funds Six Research Projects Studying Gambling Behaviours During COVID-19
Reading Time: < 1 minute

 

Australia’s Victorian state government will provide AU$600,000 in grants via the Victorian Responsible Gambling Foundation to support research into how the COVID-19 pandemic and subsequent lockdowns impacted the gambling behaviours of residents.

With a theme of “Gambling in Victoria in 2020 – COVID-19 and beyond,” the funding round provides grants to six research projects covering topics such as “Economic insecurity and gambling behaviors in Victoria in the COVID-19 society” and “How Victorian venue gamblers kept busy during COVID-19 venue closures: can substituted leisure activities reduce gambling urges and the risk of gambling harm?”

The six projects will each receive between AU$50,000 and AU$150,000 over the next three years with the findings slated to help the Foundation shape future initiatives and activities to prevent and reduce gambling harm in the Victorian community.

“The most recent publicly available data shows online race and sports betting increased by 30% compared to the same period the year before. It’s critical we understand and learn from these changes in gambling behaviour,” Shane Lucas, CEO of Victorian Responsible Gambling Foundation, said.

“We know that throughout the pandemic and the associated lockdown, some Victorians benefitted from an enforced break from in-venue gambling, while others found it incredibly challenging. To be able to plan and respond to gambling harm effectively, we need to know how COVID-19 affected gambling behaviors. This funding will be incredibly beneficial in understanding how those vulnerable to gambling were impacted by the pandemic,” Melissa Horne, Minister for Consumer Affairs, Gaming and Liquor Regulation, said.

Continue Reading

Australia

Macarthur FC and Sydney Swans set to reclaim the game from betting advertising

George Miller

Published

on

Macarthur FC and Sydney Swans set to reclaim the game from betting advertising
Reading Time: 2 minutes

 

Fans of two high-profile NSW sports teams will soon be able to enjoy games free of betting advertisements under a new partnership with the Office of Responsible Gambling.

Under the partnership, the Sydney Swans and A-League club Macarthur FC have pledged to partner with the Office of Responsible Gambling to raise awareness of gambling issues and turn down gambling sponsorships.

Natalie Wright, Director of the Office of Responsible Gambling, said it’s exciting to see other codes join the initiative.

“We now have four major agreements across three of the most popular codes after starting with cricket. That really speaks to clubs recognising their role in looking after their fans and their communities,” Ms Wright said.

Aside from not accepting any sports betting sponsorships, the clubs have committed to educating their staff, players, and fans about the risks associated with gambling.

“Sport is a big part of our Australian culture, and it should be enjoyed without having to experience gambling advertising as part of a match,” Ms Wright said.

Tom Harley, Chief Executive Officer of the Sydney Swans said the club was thrilled to be working in partnership with the NSW Government’s Reclaim the Game initiative to raise awareness of the risks associated with gambling.

“The focus of our partnership is on addressing the normalisation of sports betting and as part of this, Swans matches at the SCG will not feature gambling advertising or sponsorship,” Mr Harley said.

Gino Marra, Chairman of Macarthur FC, said that as a new club, they wanted to show their support for the Macarthur region and their passionate fanbase.

“As a club, we want to ensure we are looking after the wellbeing of our members, fans, and the wider community. This partnership does just that.” Mr Marra said.

“Our fans have got behind us in this first season, and we are excited to get behind them, too. The club, including our players, coaches, and staff, are passionate about raising awareness on this important topic.”

The Office of Responsible Gambling is in discussions with other sporting codes and clubs and hopes to announce more sign-ups to Reclaim the Game throughout the year.

If you or someone you care about needs support or advice, please call Gambling Help NSW on 1800 858 858 for free and confidential help and support 24/7.

Continue Reading
Advertisement
Lightning Roulette by NSoft
Advertisement
EvoPlay
Advertisement
Kasyno Online na HEX Polska

Subscribe to our News via Email

Enter your email address to subscribe to our news and receive notifications of new posts by email.

Trending

Notice for AdBlock users

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.