The VCGLR has announced changes to Victorian gaming regulations, which include an increase to the non-cash payout figure for EGM credits.
The Gambling Regulation Amendment Act was passed in Victorian parliament 30 November last year. Some changes to the Act came into effect from 20 December 2017.
Most significantly for venue operators, the figure on gaming machine credits that must be paid out by cheque or electronic funds transfer (EFT) has doubled, from $1,000 to $2,000.
Accumulated credits on EGMs of $2,000 or more must be paid by EFT or cheque, so that the funds are not available to the payee for at least 24 hours.
The Amendment also heralded upcoming changes to the surrender, management and distribution of gaming machine licences, ahead of a scheduled revision of the system set for mid-2022.
Operators wanting more information can consult the Gambling Regulation Amendment Act 2017 or the Victorian Commission for Gambling and Liquor Regulation (VCGLR) page on Technical Standards for Industry.