Fitch Ratings Inc says Australia’s gaming sector could face structural change as casino operators face increased scrutiny.<\/p>\n\n\n\n\n\n\n\n
Australia.- Fitch Ratings Inc<\/strong> has said the casino industry in Australia is at a turning point due to increased scrutiny following a series of media reports<\/strong> and subsequent inquiries and regulatory responses.<\/p>\n\n\n\n According to analysts, this situation could lead to structural change in the sector<\/strong>.<\/p>\n\n\n\n In a new report, \u201cWhat Investors Want to Know: Australian Gaming\u201d, <\/strong>Fitch discusses the risks posed by greater regulatory oversight and a ban on junkets as well as the impact of border closures and rising tensions with China.<\/p>\n\n\n\n Analysts stated: \u201cSome elements of the operators\u2019 businesses may also be forced to cease, which could dampen their overall revenue generation ability and margins<\/strong>.”<\/p>\n\n\n\n Most of the changes would stem from Patricia Bergin\u2019s final report<\/strong> on Crown Resorts’ suitability to continue holding a casino gaming licence in New South Wales.<\/p>\n\n\n\n Bergin suggested the establishment of an Independent Casino Commission (ICC)<\/strong> as a new regulator with the powers of a standing Royal Commission<\/strong>.<\/p>\n\n\n\n She also suggested amendments to the NSW Casino Control Act<\/strong> and a ban on junket operators in New South Wales.<\/p>\n\n\n\n The possible merger<\/a> between Crown Resorts and Star Entertainment is also mentioned as this could prompt a new independent casino authority in NSW<\/strong>, which would likely ban junkets and demand enhanced requirements for suitability.<\/p>\n\n\n\n Both companies have agreed to introduce cashless gaming<\/a> to help tackle money laundering<\/strong> and make their operations more transparent.<\/p>\n\n\n\n