Victorian government sets aside AU$56 million in annual budget to strengthen Crown Melbourne oversight

The Victorian state government has set aside AU$55.6 million (US$39.3 million) in its budget for 2022/23 to implement recommendations contained within the recent Royal Commission into Crown Melbourne.

According to details released by the government on Friday, the funds will be used to support the work of the Special Manager, Stephen O’Bryan, who has been tasked with overseeing all aspects of the casino’s operations and report on whether he satisfied Crown is suitable to continue holding its operating license. The final report from Royal Commissioner Ray Finkelstein, published in October, found Crown unsuitable to retain its license but gave it a two-year reprieve under the watch of the Special Manager to return to suitability.

The funds also include an allocation to strengthen oversight of the casino via the recent establishment of new regulator, the Victorian Gambling and Casino Control Commission (VGCCC), which the government says will hold the casino operator to account with specialised staff and dedicated casino commissioners.

Among the changes to Victoria’s casino regulations, Crown will be an adjustment to the tax rate on Crown’s electronic gaming machines that promises to generate up to AU$30 million a year and subject Crown to the same tax rates as those operated by not-for-profit, community-based venues such as RSLs.

The Government will implement further reforms this year to continue acquitting all the recommendations of the Royal Commission, it said.

“We’re getting on with delivering the reforms and investments needed to strengthen oversight of Crown and the whole Victorian gambling industry, with a focus on harm minimization,” said Minister for Consumer Affairs, Gaming and Liquor Regulation, Melissa Horne.

Treasurer Tim Pallas added, “This is a fair and reasonable change that means Crown is paying the same tax rate on its pokies as smaller, community-based venues throughout Victoria.  For too long, Crown has benefited from preferential tax treatment.”

Victoria’s new gaming regulator has wasted no time in addressing Crown’s past deficiencies, announcing last month that it had commenced disciplinary proceedings against Crown Melbourne Limited regarding the illegal use of China Union Pay cards, uncovered during the Royal Commission.

Australia’s financial crimes watchdog AUSTRAC has also served Crown Resorts with a statement of claim for the commencement of civil penalty proceedings against Crown Melbourne and Crown Perth, alleging contraventions of obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act.

The post Victorian government sets aside AU$56 million in annual budget to strengthen Crown Melbourne oversight appeared first on IAG.

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