Singapore appoints new regulator to broaden gambling scope

Singapore has officially brought together and inaugurated its new Gambling Regulatory Authority (GRA), which will take over from the old Casino Regulatory Authority.

gambling regulatory authority singapore gambling insider web image

Singapore has officially brought together and inaugurated its new Gambling Regulatory Authority (GRA), which will take over from the old Casino Regulatory Authority.

The new regulator will now have control over a range of gambling services within the island nation – including lotteries, casinos, sport betting and loot boxes in online video games.

The inauguration ceremony was held at the Suntec Singapore Convention and Exhibition Centre, where Second Minister for Home Affairs, Josephine Teo, discussed the shifting future for the gambling industry in Singapore – the basis of the new regulator taking control – saying: “There are more and more variants of gaming, gambling and games of chance, such as those involving cryptocurrencies or using crypto technology.”

Teo also spoke of the first challenges the regulator will undertake as it looks forward, stating it’ll focus on streamlining the licence approval process, with Singapore looking to approve more licences in the future.

Furthermore, its mandate will see it revise the Casino Control Act, with a view to expanding the regulatory regime. Currently, Singapore has two integrated resorts in Marina Bay Sands and Resort World Sentosa, but that looks set to change under the new system.

Ensuring stronger regulation is put in place to address the risks caused by online gambling is another priority for the new regulator, with a new requirement for loot/mystery boxes to be limited to SG$100 (US$73) already looking likely to be introduced early next year.

A spokesperson for the Ministry of Home Affairs commented on the up-and-coming regulation, saying: “The cap will prevent the inducement effect of high-value items and the normalisation of gambling among youth.”

Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
 
Premium
 
Premium Connections
The Global Gaming Awards are the most trusted and prestigious Awards in the gaming industry, recognising and rewarding the strongest performers across the previous 12 months.
25 Sep 2022

Global Gaming Awards Las Vegas 2022: Full Shortlist revealed

Gambling Insider and Gaming America are delighted to share the Shortlist for the 2022 Global Gaming Awards Las Vegas.

Life after M&A

Pariplay CCO Enrico Bradamante speaks to the GI Huddle about...

Global Gaming Awards Asia 2022: Winners revealed

The winners of the inaugural Global Gaming Awards Asia have...

Coming to America

Interblock Global CEO John Connelly speaks to Gambling Insid...

The supplier story so far

Gambling Insider speaks with leading executives from Relax G...

Read Magazine