The Star Entertainment Group announced that it has formalized the previously announced aspects of the arrangements agreed in principle with the NSW Treasurer, Daniel Mookhey, securing the company’s jobs commitment and cashless trial.

In line with the initial agreement from August 11, 2023, The Star entered into a Jobs Guarantee Agreement with the state of New South Wales and the United Workers Union. As a result, the casino giant agreed to maintain a minimum headcount and certain ratios of full-time, part-time and casual employees at its The Star Sydney casino.

The job guarantee is valid until June 30, 2030, the company added. It also mentioned that the commitment is still subject to certain permitted adjustments in specific circumstances.

As per the newest additions to the Casino Control Act 1992 (NSW), The Star risks penalties if it fails to comply with the jobs commitment it agreed to.

In the meantime, The Star also officialized a formal trial of cashless and carded play at its The Star Sydney property. This trial comes as New South Wales seeks to modernize its gambling industry and prevent gambling-related fraud.

Cashless gaming and carded play will be trialed at NSW casinos from August 2024, allowing the state to see whether they have the intended effect.

The Star Sydney, for example, seeks to allow its guests to play cashless on 51 poker machines and 8 gaming tables within its Sovereign Room.

The Star’s group chief executive officer and managing director, Robbie Cooke, commented on the formalization of the aforementioned agreements labeling the engagement with the NSW Government as very constructive. He added that The Star is happy to have reached these arrangements and be able to provide security to its team in Sydney.

According to Cooke, The Star is bullish on reacquiring NSW’s trust in the wake of the recent regulatory failings.

As we continue to focus on earning back the trust of the Page 2 of 2 community and implementing the reforms required to restore The Star to suitability, we are also committed to the continuation of our role as a valuable contributor to the NSW economy.

Robbie Cooke, group CEO & MD, The Star

Three weeks ago, The Star also introduced new regulations to prevent excessive gambling. Effective as of January 31, the new rules include a mandatory 15-minute break every three hours and a limit of 28 hours of gaming per week. Players will also be unable to play more than 12 hours a day.

The introduction of the new rules followed an AUD 100 million fine in Queensland.

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Liquor & Gaming New South Wales announced it would substantially expand its cashless gambling trial, expressing hope for the program’s success amid rising interest from clubs and other venues. This update bodes well for the Australian province, which suffers from record problem gambling rates and still struggles to regulate unscrupulous businesses.

The Government Will Collect Valuable Data

Cashless gaming has been one of the hot topics of the gambling industry in the Australian state for nearly a year. Many believe that the statewide implementation of the technology will help to prevent gambling-related fraud while protecting at-risk consumers from harm. Liquor & Gaming NSW has also remained optimistic, organizing the trial to test cashless gaming’s real-world viability.

July saw the government appoint Michael Foggo, a former liquor, gaming, and racing commissioner, to lead a panel of 16 industry representatives and reform advocates who will oversee the trial. This group will report its findings back to the government by November 2024. Premier Chris Minns has pledged transparency, stating that the panel’s findings will be publicly available.

The trial will involve collecting data from the machines, analyzing the effects on patrons, and will evaluate the impact on club and hotel employees. This in-depth review will also assess infrastructure requirements and potential costs, forming a comprehensive picture of cashless gaming. If successful, the government pledged to prioritize implementing the measure.

Cashless Gaming Enjoys Substantial Industry Support

Gambling Minister David Harris lauded the trial’s expansion, highlighting that it encompassed nine times more machines than the initial proposal. He was optimistic regarding the rising number of clubs showing interest in participating, hoping this fact reflected a genuine commitment by the entertainment industry to tackle gambling harm and money laundering.

The industry is clearly behind us as we undergo these landmark gaming reforms as part of our commitment to addressing money laundering and gambling harm in NSW.

David Harris, NSW Gambling Minister

The regional government’s unwavering commitment is a welcome sign for NSW residents who have lost AUD 8.07 billion ($5.42 billion) to poker machines in the last financial year, representing a worrisome 23.7% increase from 2018-19. These statistics underscore the urgent need for decisive action within the state and place substantial hope in the success of the cashless gambling trials.

Despite facing frequent criticisms for their lack of decisiveness, the NSW government has made substantial progress in the last few months. The state’s new ban on external gambling signs has been among its most successful initiatives, as a recent probe uncovered that nearly 99% of the inspected pubs and clubs complied with the new regulations. One can only hope that cashless gaming will enjoy the same results.

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Colorado’s Limited Gaming Control Commission (LGCC) has greenlit the trial of fixed-odds horse wagering in the state. Voted last month, the measure would allow gambling companies to offer fixed odds products for two years.

This would see Colorado as the second state besides New Jersey to offer fixed-odds betting on horse races. The move comes after years of intense efforts to get fixed odds approved. A number of operators in the state have already expressed their support of the measure.

Colorado initially allowed companies to request permission to offer fixed-odds betting on horse races in 2022. While that measure was set to expire in November this year, the new rule, approved on November 16, would instead expire in 24 months.

During that time, gambling operators are expected to request permission to offer fixed odds on horse races.

Bally’s Is Optimistic about Fixed-Odds Betting

For reference, fixed-odds horse racing allows customers to lock in their odds, potentially capitalizing on some very beneficial offers. Fixed odds do not change based on betting volume, unlike traditional pari-mutuel betting.

Fixed odds are a fairly new concept in the United States and provide high rollers with a sense of security. While the winnings of a pari-mutuel bet are subject to change depending on how many players make the same bet, fixed-odds betting will always provide the same winnings.

Thanks to this, players can wager with confidence, instead of waiting until the last possible minute to place their wagers.

At the moment, America’s biggest operators do not offer fixed-odds horse racing. Experts believe that emerging companies are more likely to explore the vertical than their established counterparts.

However, Bally’s recently wrote an open letter to the LGCC, praising it for greenlighting a trial period for fixed-odds wagering on horse races. The casino corporation believes that the new vertical would allow Colorado’s sportsbooks to capitalize on an expanded audience of fans and an increased betting volume.

The company seems to be convinced of the success of fixed-odds betting and optimistic about what it would bring to the table.

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Liquor & Gaming New South Wales announced that it will be responsible for overseeing the upcoming cashless gaming technology trial in the Australian state and invited industry bodies to participate. Hosted by The Independent Panel on Gaming Reform, the trial will explore the potential of cashless systems to change gambling in NSW.

According to the announcement the panel has now issued invitations for venues and technology providers to apply to participate in the trial.

Applicants should meet certain standards and must be committed to protecting the market from harm and fraud, the regulator explained.

Applicants should meet the minimum requirements set by the Independent Panel to take part in the cashless gaming trial, including harm minimization protections, anti-money laundering protections, and data security and privacy protections, and specific requirements for venues.

Liquor & Gaming NSW statement

Companies have until October 13 to apply for the trial.

The Trial Will Help NSW See If Cashless Gaming Is Worth Investing In

Cashless gaming has been one of the hot topics of the gambling industry in the Australian state for several months now. Many believe that the statewide implementation of the technology will help to prevent gambling-related fraud while protecting at-risk consumers from harm.

However, certain parties, including local industry groups, remain skeptical of the technology and its potential, with many arguing that it may prove to be nothing more than an expensive risk.

In any case, Liquor & Gaming NSW wants to give cashless gaming a chance and see if the technology can usher in a new era of compliance. The trials will help the authority assess how the solutions operate in practice.

An independent researcher will evaluate the effectiveness of cashless gaming by leveraging customized research methodologies.

Liquor & Gaming NSW hopes that the research will lead to a change in player behaviors, mitigating harm and preventing illicit activities.

Cashless gaming trial runs will run for three or more months, allowing the regulator and independent researcher to gather enough data.

A few days ago, the NSW government allocated $100 million to combat gambling harm as the state seeks to reduce the problem gambling rates. The investment came from the redirection of fines imposed on Star Casino.

The investment is notably a part of the Minns Labor Government Budget and reflects a dedication to preventing gambling harm and gambling-related crime.

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