The former Casino Regulatory Authority in Singapore has been replaced with the newly organised and launched Gambling Regulatory Authority (GRA).
Second Minister for Home Affairs Josephine Teo attended the official launch. She spoke about the changing outlook for the entertainment sector in Singapore. The expert noted that there were an increasing number of gambling variations, such as those utilising digital currency. The reorganised agency will consider them too.
Ms Teo discussed the body's first issues going forward, saying they will centre on simplifying the licence confirmation as the state prepares to approve more permits. As part of this purpose, the regulator will update the previous rules and broaden the policy structure.
The island has 2 resort facilities: Marina Bay Sands and Resort World Sentosa. However, with the new system, that situation is expected to be changed.
Ms Teo reiterated that the state intends to examine the current Casino Control Act to strengthen Singapore's gambling policy. Governors claimed that information would be publicly disclosed once a concept is completed.
The GRA is now the sole supervisor of gaming in Singapore that is responsible for:
The strengthened controller will govern the following facilities:
Another objective for the incoming supervisor is to ensure that stricter rules will manage the hazards linked to web gambling. A new rule that loot boxes must be limited to $ 73 already appears likely to be implemented early next year.
According to Ms Teo, the cap will stop the enticing influence of expensive things and the normalising of gambling among young people.
During the GRA’s inauguration, its spokesman Tan Tee How said that the organisation would give its officers new skills and capabilities such as data analytics and artificial intelligence.
The corporation will step up efforts to:
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