Aussie Millions Poker Series Faces Uncertain Future Due to New Gambling Laws

The Aussie Millions poker series is at risk due to new gambling regulations in Australia. New regulations require gamblers to set a loss limit before playing slot machines. Players can only wager a maximum of AU$1,000 in a 24-hour period without providing acceptable photographic ID.

Revenue from slot machines accounts for around 25% of the total casino revenue. This factor might ultimately be the undoing of the Aussie Millions. If we assume that casino revenue will be hit hard by the regulatory changes, the shortfall will have to be made up from somewhere. Revenue from hosting poker tournaments doesn’t come anywhere close to what is normal for gaming machines and table games.

Crown Resorts was allowed to continue operating after agreeing to replace almost every executive and promising to change its business practices. In 2019, James Packer, the majority shareholder of Crown Resorts, tried to sell his 19.99% stake to Lawrence Ho. Lawrence Ho's father, Stanley Ho, had confirmed links to Chinese organized crime group the Triads. Stanley Ho was once knocked back by the New Jersey Casino Control Commission when he applied for a gaming license because of his activities. Lawrence Ho was listed as a company director of a firm blacklisted in Australia.