VGCCC publishes 2022-2023 market report
The VGCCC has recently published its latest annual report covering its regulatory activities over the 2022-2023 financial year.
The regulatory authority’s latest report covered the VGCCC’s activities over the 12-month period that ended on the 30th of June this year and highlighted that the regulator oversaw more than 34.5 thousand gambling entities. The report also mentioned that the VGCCC received almost 6 thousand license applications throughout the period and carried out 1.8 thousand auditing investigations and 2.5 thousand inspections.
These regulatory reviews resulted in the discovery of a bit less than 600 breaches over the year, which led to 7 enforcement actions and the initiation of 3 prosecutions. The VGCCC’s report also mentioned that the authority issued more than 170 million Australian dollars in penalties throughout the period, while licensed gambling firms in the state paid approximately 2.3 billion dollars in various taxes.
In addition to mentioning its key figures, the authority’s report also covered some of the VGCCC’s future plans and strategies, with the regulator aiming to further enhance its efforts to better ensure the safety and compliance level of the Victorian gambling industry. The VGCCC also mentioned that it will soon be launching a new website that will help it provide an expanded set of information to the Australian state’s citizens and allow them to report any regulatory breaches more easily.