Australian gaming operator The Star Entertainment indicated to be “currently evaluating” the recently introduced reforms to the Queensland casino legislation and its “potential application” to its operations.
A new Casino Control and Other Legislation Amendment Bill was introduced to the Queensland Parliament on October 25 of this year.
The proposed reforms include the introduction of mandatory carded play, cash and time play limits, restrictions on the use of cash, mandatory player pre-commitment restrictions on expenditure by customers for certain games and activities and a supervisory levy payable by casino licence holders.
The new legislation means casinos will have to adopt new technologies and face higher penalties for specific breaches.
‘The Star is currently considering the Bill and its potential application to its Queensland operations, noting it remains subject to the usual consultation and parliamentary processes,’ the gaming group pointed out.
The changes come after recommendations of the Gotterson Review and initial reforms enacted by the Casino Control and Other Legislation Amendment Act enforced in October, 2022.
Last year’s law reforms introduced pecuniary penalties for casinos of up to A$100 million ($63 million), which were subsequently applied in disciplinary action against The Star, over non-compliance with AML/KYC regulations.
The Star owns and operates the Treasury Casino & Hotel, The Star Gold Coast, and The Star Sydney, holding three out of Queensland’s five casino operation licenses. It is also currently developing the multi-billion-dollar Queen’s Wharf Brisbane project, which is expected to open in April 2024.
The Australian group decided to tap into capital markets for a second time in 2023 as it aims to raise A$750 million ($481 million) as part of a major capital restructuring to strengthen its balance sheet.