Singapore has updated its Casino Control Act to modernize the industry. The new rules will support cashless gaming, but casinos still cannot use cryptocurrency due to concerns about money laundering.
During the Parliament session on Tuesday, the lawmakers didn't focus much on expanding the Gaming Regulatory Authority's (GRA) role. The GRA will now oversee all gambling in casinos, including betting and lotteries, not just games of chance. Legal expert Lau Kok Keng suggested this change might allow future betting and lotteries in casinos, possibly through partnerships with Singapore Pools, though this is not certain.
CNA reported that Singapore's Minister of State for Home Affairs and Social and Family Development, Sun Xueling, answered many questions about the new rules. One key change is that the approval of major shareholders in casino operators will now be handled by the Minister for Home Affairs. This adjustment aims to align the casinos with the government's strategic goals.
At the same time, the GRA's Evaluation Panel will consider future industry standards and market demands during reviews. Lau Kok Keng noted this would help casinos comply with upcoming regulations and avoid costly adjustments.
Minister Sun gave an example of how patrons can use virtual credits for bets at gaming tables or machines. However, the GRA does not plan to allow cryptocurrency for casino gambling.
Loot boxes remain unregulated as gambling. Sun said current rules are balanced, but the government will review them if loot boxes start significantly encouraging gambling.
Regarding a mistake with entry levy rates, Minister Sun assured that the higher rates will stay. The government has acknowledged the issue and is addressing it in Parliament.
The new rules also let casino operators share patron information directly without consent, hold operators accountable for regulatory breaches even after license expiry, and tackle cheating, including penalizing bet withdrawals after game results are known.
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