The South Australian government will reportedly introduce fresh legislation next week aimed at offering higher penalties for gambling industry failures.
As reported by ABC News, the government wants penalties for compliance failings and evading the payment of casino duty, among other misdemeanors, to rise from AU$100,000 to $75m.
The proposed regulations would affect SkyCity Entertainment Group, the state’s only license holder in Adelaide.
The Australian financial crime watchdog Austrac opened Federal Court proceedings into SkyCity in December 2022, with the hearing set to restart in June this year, ABC News said.
The source quoted SA’s consumer and business affairs minister, Andrea Michaels, as saying: “This is really balancing the community’s expectations with what we expect to see of our single casino holder.
“We want to make sure fines aren’t just seen as a cost of doing business.”
SkyCity recently appointed a new CEO in Jason Walbridge, a current strategic advisor to Aristocrat and executive chairman of National Entertainment Network.
The proposed legislation comes as fellow Australian casino operator The Star Entertainment Group grapples with the second New South Wales hearing into alleged failings at its Sydney casino.
Elsewhere, Crown Resorts has been found by the NSW Independent Casino Commission to be suitable to retain its casino licence.
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