It’s harder to manually regulate and manage these risks in the physical, land-based casino as it is done in online operations due to the simple fact when a player walks in, you don’t know where the bills in their pocket have come from, often with little knowledge of who the person is sitting at the table or at the slot machine.

In 2022, two leading casino operators in Australia were fined a total of AU$220m (£120m) for anti-money laundering infringements. This issue has become very apparent through regulatory action on a global scale against casino operators and needs to be addressed swiftly.

It’s clear that regulators, legislators, the international finance community and operators themselves are grappling with how to best deal with money laundering in land-based gambling spaces.

One technological solution that early adopters have found success with, and is now gaining traction more broadly is cashless casino infrastructure.

An all-in-one cashless system completely removes the capacity for cash transactions in land-based casinos, enabling KYC implementation for any engagements a player makes on-site. In turn, cashless systems also address anti-money laundering (AML) and other compliance needs, as well as facilitate responsible gambling protections for players through greater data capture and granularity.

By creating a casino wallet on a device, operators can enable real money gameplay by integrating the cutting-edge technology of Distributed Ledger Technology (DLT) and tokenisation.

PremierChain offers a solution that’s a one-stop shop app that pairs with:

• KYC, source of funds and affordability checks
• Bank, credit and fiat deposits
• Player protection tools and monitoring that allows automatic notifications and positive player interactions while still in play
• Seamless integration with rewards and loyalty programs for a true omni-channel experience