The deal would see Crown Casino licensed until 2050 and the operators compensated if some anti-gambling measures were introduced.
The state stands to gain almost a billion dollars, including an up-front payment of $250 million, as part of the deal which has been described as unprecedented.
Under legislation before the Victorian parliament, the casino would be compensated if parliaments lifted smoking exemptions for VIP areas.
There would also be compensation for changes to rules aimed at reducing problem gambling, such as reduced maximum bets, restrictions on ATM access or mandatory pre-commitment technology on poker machines.
Anti-gambling campaigners such as Tim Costello say that the amendment, if approved, would stifle progress on addressing problem gambling, and guarantee casino profits, for years to come.
“To tie the hands of the next five or six state governments from pokies reform, gambling reform, is just outrageous,” Mr Costello said.
“Frankly it's immoral.”
The Opposition and Independent MP Geoff Shaw have not decided whether they'll support the bill.
Neither Crown, nor the State government, responded to an SBS request for comment.
