Singapore’s Gambling Regulatory Authority (GRA) held its inauguration ceremony on Tuesday. The new agency, which takes over the work of the former casino regulator and adds some new responsibilities, is headed by CEO Theo Chun-ching. He held the same position in the previous institution.
The ceremony was attended by Josephine Theo, Minister of the Interior of Singapore. 경마사이트프로
During the event, Ms Theo said the establishment of the GRA was an important step toward tightening the city’s gaming regulations. She specifically mentioned issues related to the rise of online gambling.
“There are more and more variants of games, gambling, and games of chance, such as games related to cryptocurrency or using crypto technology,” the local media The Straits Times quoted.
In her speech, Theo reaffirmed that the local government plans to review existing casino control laws to strengthen Singapore’s casino regulatory system. According to the Straits Times, the ministry said details will be released when the proposal is ready.
GRA Chairman Tan Thi Howe said at the ceremony that the group will equip officers with “new skills and capabilities such as data analytics and artificial intelligence.”
“We will redouble our efforts to enhance operational agility, develop executives and foster digital support workplaces with expanded authority,” he added
The Straits Times also quoted a GRA spokesman as saying authorities plan to streamline permits for various forms of legal gambling.
Singapore is home to many casino resorts. One is Marina Bay Sands, run by the U.S.-based Las Vegas Sands Company, and the other is Resort World Sentosa, run by Genting Singapore Inc.
The establishment of a new gaming regulator in Singapore took effect earlier this month following a regulatory change originally passed in March.
The GRA is Singapore’s single regulation of all forms of gambling in urban states. According to a Home Office statement released at the end of July, “This allows the government to outpace technology and gambling trends more effectively, respond more appropriately to emerging gambling products, and take a more holistic and consistent approach to gambling policy.”
The GRA Act empowers regulators to issue operator licenses for gambling services such as gambling and lottery businesses, gaming rooms, and private facility gambling. provided that the licensee is deemed “fit and fit” for the role.
The same statute provides rating authorization schemes for “low risk gambling products” such as business promotion lucky tickets.
Operators who provide such activities do not need to be licensed individually by the GRA, but they must meet the requirements of rating authorization.