There will be a Pokies Loss Limit at the Crown Casino

There will be a Pokies Loss Limit at the Crown Casino

The Victoria State Government is considering new laws that would require gamblers at the Melbourne Crown Casino to have a fixed limit on their pokie losses.

The fixed limit is one of 12 measures that the government is expected to approve from the 33 recommendations from the Royal Commission that looked into serious allegations of money-laundering at the casino property.

The 12 recommendations were read in Parliament today by the Minister for Gaming and Liquor Regulation, and will be reviewed and read again tomorrow.

The government has stated that it will give the casino until the end of 2023 to have the mandatory commitments for limits on pokie gambling in place, despite the fact that technology to enforce the limit and track the time and money spent at the casino does not yet exist. The casino will be able to implement all changes by the year 2025.

There are no plans to introduce affordability checks for individuals, and the limit for losses will be up to the patron.

Minister Horne talked about the new laws.

This is a world-first in a suite of reforms and needs to be fully rolled out by the end of the century.

The $1,000 cash transaction limit is one of the recommendations. Patrons are only allowed to make $1,000 in cash transactions in a 24 hour period. If they want to gamble more than $1,000 or collect winnings higher than the limit, they have to provide valid ID.

Any person or entity that wants to own more than 5% of the casino must be approved by the Victorian Gambling and Casino Control Commission. The casino will have to pay for the implementation of all recommendations, as well as any costs associated with the regulation of the property.

The new legislation is required according to Minister Horne.

Ensure that the conduct uncovered by the Royal Commission will not happen again in the city.

Crown was fined $80 million for its role in the illegal China Union Pay scheme that saw the casino profit by as much as $32 million from money-laundering practices.

Summary:

The Victoria State Government is considering new laws that would require gamblers at the Melbourne Crown Casino to have a fixed limit on their pokie losses. The fixed limit is one of 12 measures that the government is expected to approve from the 33 recommendations from the Royal Commission that looked into allegations of money-laundering at the casino property.