The Independent Casino Commission of New South Wales has warned casinos in the state that they will face “very severe consequences” if they engage in misconduct.
The commission, which went into effect today, has unprecedented powers to monitor casino activity and prosecute operators who engage in money laundering or other criminal activity.
Under new laws, casinos face fines of up to AU$100 million (US$67.8 million), and senior executives and board members will be personally liable for any wrongdoing they know about but fail to stop.
Former Independent Liquor & Gaming Authority (ILGA) Chairperson Philip Crawford will serve as the commission’s Chief Commissioner, and has warned operators of the consequences of crossing the line.
“We’re keeping in touch with them, and they know we’re on the case and know what we’re doing,” Crawford said.
“We’ll be much more vigilant, and we’ll have a lot more tools to help us in that process.” Casinos’ ability to hide things from us, which they have actively done in recent years, will no longer be available to them.”
The commission already has a large task ahead of it, as the findings of the review into The Star are expected to be considered. Crawford has received the report from Adam Bell SC, and an initial response is expected in the coming weeks.
“That company has a massive cultural problem; the lengths they went to hide poor conduct and bad behavior, not only from their own board but from us as a regulator and any prying eyes, was just appalling and hugely disappointing,” Crawford added.