Australia
Crown Fined $2 Million for Self-exclusion Breaches
The Victorian Gambling and Casino Control Commission (VGCCC) has fined Crown Melbourne $2 million for allowing 242 people who had self-excluded from gambling to place bets at the casino over an 8-month period between October 2023 and May 2024.
VGCCC Chair Fran Thorn said: “It is an offence under the Casino Control Act 1991 (Vic) to allow an excluded person, including anyone who has self-excluded, to enter, remain or gamble in the casino. It also contravenes Crown Melbourne’s obligation to protect people at risk of gambling harm.
“Those who self-exclude must be able to trust that gambling providers will take all reasonable steps to enforce their decision to avail themselves of this harm prevention initiative.
“By allowing people who have self-excluded to enter the casino and gamble, Crown has put them at risk of experiencing further gambling harm. However, it is also clear that a number of these self-excluded patrons are going to considerable lengths to avoid detection and break their exclusion requirements.”
The self-exclusion breaches were detected through VGCCC’s ongoing monitoring of the casino’s operations. The Commission determined the breaches were due to system and control failures rather than deliberate or egregious disregard by Crown of its regulatory obligations.
“Accordingly, the Commission has issued a direction to Crown to engage an independent expert to assess the effectiveness of, and make recommendations for improving, the management of its self-exclusion program. In due course, Crown will be required to implement the independent expert’s recommendations,” Ms Thorn said.
In April this year, the Commission directed Crown Melbourne to implement a transformation plan to continue its reform and remediation following the findings of the Finkelstein Royal Commission.
The Commission acknowledges Crown has taken some steps to strengthen its controls for policing exclusion orders, and introduced measures to improve its monitoring activities, physical security, use of technology and training of staff.
“The VGCCC is committed to ensuring Crown continues its reform efforts,” Ms Thorn said.
The post Crown Fined $2 Million for Self-exclusion Breaches appeared first on European Gaming Industry News.
Australia
Jamieson O’Reilly to Deliver Keynote at Regulating the Game 2025 Sydney
The organisers of Regulating the Game 2025 have announced that Jamieson O’Reilly, CEO and Lead Hacker at Dvuln, will deliver a keynote titled “Oceans 11 Downunder: How I Hacked Australia’s Two Biggest Casinos (Legally)” at the 2025 edition of the conference in Sydney.
The organisers said: “In this eye-opening keynote, Jamieson will take attendees behind the scenes of how he legally hacked into two of Australia’s largest casinos, uncovering serious vulnerabilities in their digital infrastructure. Casinos are known for their robust security measures, but as they increasingly rely on interconnected systems and digital processes, new vulnerabilities emerge that even the most fortified establishments must contend with.”
Mr O’Reilly added: “When most people think of a casino, they think of high security, underground vaults, and an overall intimidating complexity. But with great complexity comes great security consequences. It’s easy to think of a casino as one big money-making machine. But the reality is, under the hood, casinos are run by many individual moving parts, all relying on each other equally to function.”
O’Reilly’s talk will delve into the specific techniques he used to breach these casinos’ defences, exposing weaknesses in their systems, surveillance networks, customer databases and backend operations. Although both casinos have since patched the vulnerabilities, Jamieson’s experience highlights the broader challenges facing the gaming industry in the digital age, where the expanding attack surface presents real risks.
Paul Newson, event organiser and Principal at Vanguard Overwatch, said: “With his incredible experience in ethical hacking and cybersecurity, Jamieson’s keynote is set to be a highly anticipated session of the conference. His revelations about how he legally breached the security of two major casinos provide crucial lessons for the entire gambling sector.
“As the industry becomes more digitally interconnected, understanding the risks and learning how to defend against cyber threats is more important than ever.”
As a leader in offensive security, he has conducted countless red team exercises and adversary simulations against some of the hardest targets in the world, from banks and casinos to government agencies, to test their resilience against Advanced Persistent Threats (APTs).
His expertise helps organisations uncover critical vulnerabilities and build robust defences against highly skilled attackers.
Jamieson is a member of the CREST Approved Australasia Council, underscoring his leadership in the cybersecurity community in addition to this, Jamieson is also a co-author of the post-quantum encryption specification PPQM, demonstrating his knowledge in advanced cryptography and defensive security.
His keynote will not only offer an insider’s view into casino security vulnerabilities but will also provide practical insights into how businesses can strengthen their defences against ever-evolving digital threats. The session is essential for anyone in the gaming sector looking to safeguard their digital infrastructure in a connected world where no system is truly secure.
The post Jamieson O’Reilly to Deliver Keynote at Regulating the Game 2025 Sydney appeared first on European Gaming Industry News.
Australia
AUSTRAC CEO Brendan Thomas Announced as Speaker for Regulating the Game 2025 Sydney
The organisers of Regulating the Game 2025 have announced that Mr Brendan Thomas, chief executive officer of AUSTRAC, will be a featured speaker at the 2025 edition of the conference, taking place at the Sofitel Sydney Darling Harbour from 10-13 March 2025.
Mr Thomas, who began his 5-year term as AUSTRAC CEO in January 2024, brings extensive experience in leading public services and delivering reforms, particularly within NSW’s criminal and civil justice systems.
As the head of Australia’s financial intelligence unit and AML/CTF regulator, he oversees AUSTRAC’s efforts to safeguard the financial sector from criminal exploitation while providing critical intelligence to support national security, law enforcement and regulatory partners.
AUSTRAC has intensified its focus on the gambling sector, following a series of high-profile enforcement actions against major casino operators and several corporate bookmakers. Reports in the Financial Review have also highlighted AUSTRAC’s increased scrutiny of pubs and clubs in the wake of the 2022 NSW Crime Commission’s Project Islington, which, while finding no widespread laundering of criminal proceeds, revealed significant amounts of illicit funds being gambled in these venues.
Paul Newson, principal at Vanguard Overwatch and organiser of Regulating the Game, said: “Having Brendan Thomas speak at the conference signals AUSTRAC’s ongoing commitment to the gambling sector. His participation emphasises the importance of making sure the industry is alert to money laundering risks and continually strengthened against financial crime.”
Mr Thomas’ presentation is expected to offer invaluable insights for regulators, industry leaders and key stakeholders, especially as AUSTRAC’s role in combatting financial crime is set to expand further with the anticipated passing of the Government’s Anti-Money Laundering and Counter-Terrorism Financing Amendment Bill 2024. This legislation aims to extend the AML/CTF regime to high-risk professions, such as real estate agents, lawyers, accountants and dealers in precious metals and stones, marking a pivotal shift in Australia’s regulatory landscape.
Regulating the Game 2025 will be held in Sydney, Australia, from March 10 to 13. The event will once again serve as a platform for thought leaders, innovators and regulators to come together and explore the most pressing issues in the gambling sector.
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Australia
The Star: New Debt Facility Arrangement
The Star Entertainment Group Limited announced that the Group’s corporate lenders have executed a commitment letter for a new debt facility (of up to $200 million in two-tranches) which will become effective upon completion of long-form documentation and satisfaction of various conditions precedent.
The Group’s existing $450 million facility has been reduced to $334 million which is fully drawn.
The Company’s lenders have agreed to provide covenant waivers for the next two testing dates, being 30 September 2024 and 31 December 2024, with the waiver for the latter date being subject to execution of long-form documentation for the new debt facility and other customary conditions.
The new facility comprises two tranches of $100 million each. The first tranche is expected to be available to be drawn, subject to conditions precedent, from the end of October 2024 through to 20 December 2024.
The first tranche is subject to certain conditions precedent being met, including:
•the provision of unsecured guarantees from some of the Group’s regulated entities and enhanced security granted to lenders;
•regulatory consents and government approvals as required for guarantees and enhanced security for the lender group;
•the establishment of a disposal proceeds account with a credit balance of an amount representing the net proceeds of the sale of the Treasury Brisbane casino building and any other non-core asset proceeds completed before the draw down; and
•other customary conditions precedent.
The second tranche is subject to more extensive conditions precedent but, if satisfied, would be expected to be available to be drawn from the end of December 2024 and have a 4 month availability period following the drawing of the first tranche.
The conditions precedent for the second tranche drawdown include:
•the receipt of required regulatory consents and finalisation of documentation for the granting to the lender group of security over the Group’s regulated entities;
•provision of information in relation to the Group’s long-term strategy;
•all lender approval of the Group’s strategic plan and long-term financial forecasts;
•the Company raising additional subordinated capital of at least $150m; and
•other customary conditions precedent.
The all-in coupon for the new facility is 13.50% per annum (assuming cash pay is elected), and the existing $300 million term facility has been repriced to this level:
•the Company has the flexibility to capitalise a component of the interest at its election; and
•there is a reduction in the coupon subject to the Group’s Adjusted Net Leverage Ratio falling below 4.0x.
The maturity date for the new facility is consistent with the existing term loan (December 2027). The Group will also retain up to $34 million of bank guarantees under the existing revolving credit facility.
The post The Star: New Debt Facility Arrangement appeared first on European Gaming Industry News.
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