All casinos need a license to operate. This license is granted by a special body, such as a commission, and the casino will need to operate within regulations to keep the license. If it breaches one or more of them, it will need to work hard to regain the license.
Crown Entertainment, a big name in the casino industry in Australia, lost its license because its venues have been caught in a money laundering scam. Recently, Reef Hotel Casino was also discovered to have breached regulations.
Another Australian Casino Breaks the Law
It seems that the Australian casino industry hasn’t been doing quite well recently. When a name like Crown Entertainment was forced to forfeit its license and get new management as well as more monitoring from a regulative body because of being complicit in money laundering, then something’s off.
Recently, Cairns’ Reef Hotel Casino was taken to court over a breach of casino legislation. Officials were charged with operating beside a restriction on casino licenses. In other words, the casino agreed to provide services, such as offering casino games to players, and in return, it would get a share of the money that made its way to the casino.
This goes strictly under casino regulations which is why officials at the Office of Liquor and Gaming have charged the officials of the Cairns casino complex. The lawyer representing the casino complex has stated that the complex is going to plead guilty to the charge for which they would receive the maximum fine of $5,750. Another court session is to take place in December this year.
For the casino to take a percentage of the money gambled there it needs written approval from the Minister for Liquor and Gaming. Since it didn’t have that, it’s subject to a fine. This kind of behavior will increase the body’s monitoring of the casinos’ operations.
This kind of behavior also lowers the complex’s image and public trust in the casino. In other words, the complex will need to double its effort in convincing the regulative body that it can conduct operations properly, in accordance with regulations.
The second court hearing in December will finalize the situation, but the image of the casino remains besmirched. Popularity will drop and depending on the measures taken, the complex will either learn from its mistakes or it won’t. It will need to pay the fine, but more importantly, it will need to build trust with the regular customers again.
Land-based casinos need to operate under regulations to keep a license and enjoy a certain degree of popularity. If they play by the rules, then they’ll enjoy more clients and attract more new ones. The rules are there for a reason.
Every casino that breaks the law will be punished accordingly. This has been going on in the Australian casino market. Naturally, they have been taken to court and charged, which is why the regulative body will continue to monitor other casinos in the sector for any irregularities in operations.