Tue, Aug 19, 2:26pm by Nathan Misa
Red tape for gaming in Queensland by 2018 will be reduced by 20% to benefit gaming, liquor and tourism industries in the state, a new report has revealed during the 2014 Gaming Racing and Wagering Australia conference.
Office of Liquor and Gaming Regulator Michael Sarquis led the keynote discussion, detailing plans for integrated resort developments and further red tape reduction for gaming in Queensland.
The main topic of focus was a significant reduction in administrative processes for industry, less spending on renewing gaming machine licences, and more streamlining and reduction in reporting requirements.
Mr Sarquis outlined several gaming initiatives forecasted from the red tape reduction, including the replacement of the Liquor and Gaming commission with a single commissioner to expedite the decision making and approval process, and more consistent implementation of Ticket in Ticket Out (TiTo) technology. Queensland has been slow in adopting this industry standard in casinos compared to other state-based jurisdictions.
Other forecasted administration changes include the removal of gaming machine boundaries for clubs, gaming machine license renewal requirements, and a 50% decrease for community club license processing times.
Gaming machines are also set to accept $50 and $100 notes, up from the previous cap of $20, and an increase of gaming machine limits for clubs – remaining at a cap of $24,705.
Also central to the discussion was the proposed “Four Pillar” strategy of tourism, agriculture, resources and construction. For the gaming industry, this means development of new casino sites for increased Asian tourism. Queensland has experienced a drop in tourism numbers since 2010, with a reported 825 visitors from the Asian market spending money in Queensland between March 2013 to March 2014.
Sarquis identified the rising middle class of China, an estimated 520 million people, as the demographic QLD wants for boosting international tourism, as well as Singapore Integrated Resorts as the benchmark for Queensland – since 2010, the international casino venue reported $3.1 billion in total revenue.
The discussion paper, ‘Red tape reduction and other reform proposals for regulation of liquor and gaming’ was originally submitted in February 2013 for full assessment, with the final report expected shortly.
One of the leading software providers for slots, live casino and bingo has announced a landmark deal with European operator Interwetten to…
Wynn Resorts executives are in talks about a possible sale of its yet-to-be-opened $2.6 billion casino just outside of Boston to MGM…
CCP Technologies Limited has scored a victory in the United States, with the company announcing that its smart-sensor temperature control technology would…