The state government has introduced new laws to bolster the gambling watchdog’s powers and lift the maximum penalty for non-compliance to $100 million to address issues raised in the inquiry into Crown casino.
The Casino Legislation Amendment Bill 2022, introduced in parliament today, will enable the state to execute plans to appoint an independent monitor.
That monitor will oversee what is expected to be a two-year remediation process for Perth’s only casino, addressing some of the 59 recommendations contained in the Perth Casino Royal Commission's 994-page report.
The report found Crown Perth and its subsidiaries unfit to hold the state’s only casino licence, but stopped short of recommending the licence be revoked.
The $5 million probe was called in the wake of a damning report that accused Crown of laundering money through subsidiaries’ bank accounts at its Perth and Melbourne operations.
The new penalty represents a significant crackdown on non-compliance at the casino, increasing 1,000-fold from $100,000 to $100 million.
The bill will also include a provision enabling the state government to hand the bill for the independent monitor to Crown and appoint an independent chair for the Gaming and Wagering Commission.
Racing and Gaming minister Tony Buti said the new laws would help the state government hold the casino operator to account and bring the state’s casino laws into the 21st century.
"Greater integrity is not optional - the WA Government will have a new independent monitor and much higher penalties to ensure the highest standards are upheld,” he said.
Next, the state government will turn its attention to modernising the 1984 Casino Control Act.
The introduction of the new laws coincides with Crown gaining conditional regulatory approval from New South Wales’ liquor and gaming authority to open its luxury Sydney casino.
The gaming giant was given the green light to open the casino, which is situated inside a skyscraper overlooking Sydney Harbour.
But the approval will only be in place for a period of 18 months, during which time the casino operator will be under the watchful eye of independent monitor Kroll Associates.
A full approval is expected to hinge on whether the company can demonstrate it had implemented the remediation action plan proposed as a result of its own Royal Commission.
The news comes just 48 hours before US investment firm Blackstone is set to take over as the new owner of Crown after its $8.9 billion takeover was approved earlier this month.
