Casino regulation in NSW has undergone a major overhaul after tough new laws passed the NSW Parliament tonight.
Minister for Hospitality and Racing Kevin Anderson said the Casino Legislation Amendment Bill 2022 will ensure the State’s two casinos comply with stringent controls, under the supervision of an independent regulator.
“This marks a new era in the way casinos in NSW are allowed to operate, with new comprehensive measures targeting key issues such as money laundering and other criminal activity.” Mr Anderson said.
“This essential reset will give the people of NSW confidence that the State’s casino operators will be held to the highest possible standards.”
The centrepiece of the Bill is the creation of the NSW Independent Casino Commission (NICC) that will have unprecedented powers to monitor casino activities, and take strong disciplinary action against operators and individuals who engage in misconduct.
“The NICC will formally commence operations on 5 September and its first major task will be to consider the findings of the review into The Star casino, with Adam Bell SC due to hand down his report by the end of the month,” Mr Anderson said.
“The regulator will also take over the work of the Independent Liquor & Gaming Authority in overseeing Crown Sydney’s conditional opening of its gaming areas.
“The NICC will be led by a Chief Commissioner supported by four Commissioners including one with money laundering experience, to be appointed soon.”
Mr Anderson said the NICC will be funded by the Casino Supervisory Levy paid by both casinos. The levy will support a significant improvement in casino regulation.