Singapore looking to strengthen casino regulations

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Singapore looking to strengthen casino regulations Aug 7, 2024 9:40:49 GMT -5 bjspokanimal likes this

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Post by Blitz on Aug 7, 2024 9:40:49 GMT -5

Singapore looking to strengthen casino regulations as Casino Control (Amendment) Bill introduced to parliament

by Newsdesk Wed 7 Aug 2024 at 05:46
www.asgam.com/index.php/2024/08/07/singapore-looking-to-strengthen-casino-regulations-as-casino-control-amendment-bill-introduced-to-parliament/

Singapore’s Ministry of Home Affairs (MHA) on Tuesday introduced a Casino Control (Amendment) Bill to parliament, which looks to tighten the regulation of casinos and licensees, strengthen protections for vulnerable groups and enhance the operational effectiveness of the nation’s casino regulatory regime.

According to information from the Ministry, the Bill aims to improve on areas of the Act to ensure it remains effective and keeps pace with changes in the wider gambling landscape, including preparations for future changes to the gambling landscape that may broaden the scope of games offered by Singapore’s casinos.

Among the notable amendments included in the bill are the introduction of new offences to deter criminal activity, including the new offence of withdrawing a bet after the result of a game is known – it is currently illegal only to place a bet after the result is known – another new offence related to the recording of patterns of non-card games such as gaming machines, and a greater ability to prosecute excluded persons who enter a casino premises.

The Bill allows the operators of Singapore’s two casinos – Marina Bay Sands and Resorts World Sentosa – to share information of patrons with each other for the purposes of tackling money laundering, terrorism financing and proliferation financing.

It also tightens the rules related to determining the suitability of main shareholders of casino operators and hands responsibility for approval of controlling shareholders from the Gambling Regulatory Authority (GRA) to the Ministry of Home Affairs. Conversely, the GRA would take over responsibility from the Ministry for determining suitable persons.

In an effort to “future-proof” Singapore’s casino regulatory regime, the Bill provides for the regulation of betting and lotteries in casinos but clarifies there are no currently plans to allow casinos to carry out such activities. It also provides the ability to approve gaming software deployed developed by gaming machine suppliers for mobile devices should the need arise.

Explaining its reasons for introducing the amended bill, the MHA said, “The Casino Control Act (CCA) was introduced in 2006 to govern the operation and regulation of casinos and was last amended in 2012. Thus far, our regulatory regime has worked well. Casino-related crime remains low, problem gambling remains under control, and the casino operators have not committed any significant breach of gaming-related requirements.

Notwithstanding, as part of MHA’s regular reviews of our laws, we have identified areas where the CCA should be amended to ensure it remains effective and keeps pace with changes in the wider gambling landscape.”

Last Edit: Aug 7, 2024 9:41:09 GMT -5 by Blitz

Blitz
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Singapore looking to strengthen casino regulations Aug 8, 2024 6:26:04 GMT -5 bjspokanimal likes this

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Post by Blitz on Aug 8, 2024 6:26:04 GMT -5

Interesting changes proposed in Amendments to Singapore’s Casino Control Bill

Kelsey Wilhelm - August 7, 2024
agbrief.com/news/singapore/07/08/2024/interesting-changes-proposed-in-amendments-to-singapores-casino-control-bill/

Singapore has introduced an amendment to its Casino Control Bill, which underwent its first reading in the country’s Parliament on Tuesday. The bill introduces some interesting measures aimed at tightening regulations and improving effectiveness, while also aiming to protect vulnerable groups.

One of the main elements aimed at improving casino operator (CO) conduct is the move to allow operators to share patron data with each other without requiring consent from the patron.

The authorities note that this is in line with its efforts to tackle money laundering, terrorism financing and the proliferation of financing. It also fits with Singapore’s recent moves to best align with the guidelines of the Financial Action Task Force.

This was evidenced by another recent move to lower the reporting threshold for cash deposits in Singapore’s casinos to SG$4,000 ($2,950) – a separate bill expected to come into effect sometime this year.

Another interesting addition is making it an offense to withdraw bets after the result of a game is known. Previously it was only an offense to place a bet after the result is known. This could also potentially apply to past posting (or late betting) – where players change their bet by switching out the gaming chips after the results are known. A famous example of this is the Savannah Move, where bets were only altered after a negative outcome was found, allowing for legitimate wins and decreased losses for the player.

The bill further introduces an offense for recording non-card games with a device. While recording of card games is an offense, the legislation does not currently cover gaming machines, with authorities noting there had ‘encountered cases of patrons who attempt to cheat the casinos by recording play patterns of non-card games’.

The bill also aims to further strengthen oversight of casino operators by evaluating their suitability to hold a casino license based upon ‘whether the CO conducts business in a manner which is unethical or will bring discredit to casino gambling in Singapore’.

It also covers ‘whether the CO has poor corporate governance practices or weak internal controls (eg disregarding whistleblower reports alleging misconduct of employees)’.

The changes allow for the Gambling Regulatory Authority (GRA) to take disciplinary action against the casino operators.

GRA, Singapore

Two other interesting changes were also highlighted in the bill amendment proposal – expanding the scope of the GRA to regulate betting and lotteries in casinos and approve gaming software developed on mobile devices.

Regarding the former, the authorities note that ‘there are currently no plans to allow casinos to carry out betting and lotteries’, however it’s included ‘to pre-empt any future changes in the gambling landscape’.

For the second, the GRA would be allowed to approve gaming software developed for mobile devices. Currently, the GRA only approves gaming machines – comprising the hardware and software components.

A further change would allow the gaming regulator to assess which instruments can be regarded as chips. ‘This will allow for new wagering instruments (eg virtual credits) to be used in the future, should GRA assess them to be suitable’.

This begs the question of whether virtual assets, such as cryptocurrency, could later be deemed a type of betting instrument.

Another alteration aims to streamline to approval process for gaming machines, meaning that all gaming machine manufacturers or suppliers will only need to seek approval from the GRA if they ‘have control over how gaming machines are designed and manufactured’. Those with no control over this process will no longer be subject to approval.

The proposed amendments include allowing the GRA’s Evaluation Panel to include ‘future industry standards and market demand’ when assessing integrated resort operator’s tourism performance.

One funny alteration is in regards to the casino entry levies, which had increased during a five-year period to SG$150 per day and SG$3,000 per year (for Singapore citizens and permanent residents). The five-year period ended in April but authorities forgot to extend it, meaning the levies automatically reverted to the lower rates on April 4th of this year. Authorities have now moved to regularize the higher entry levies and ‘have tightened our processes to avoid a repeat of such an incident’.

While the amendments are extensive, they do not appear to be due to any increase in crime or misconduct by casino operators, with authorities noting that only 0.2 percent of all reported crime cases in 2023 ‘were at the casinos’.

Additionally, ‘probable pathological and problem gaming rates among Singapore residents have been low and stable at about 1 percent’.

Speaking of the new changes, Singapore’s Minister of State, Sun Xueling, noted that “These amendments will ensure that our laws remain effective and relevant in governing the changing gambling landscape.”

Last Edit: Aug 8, 2024 6:27:14 GMT -5 by Blitz

Blitz
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Singapore looking to strengthen casino regulations Aug 13, 2024 8:31:39 GMT -5

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Post by Blitz on Aug 13, 2024 8:31:39 GMT -5

Singapore’s Casino Control Act amendments plugging holes and removing inefficiencies: Expert

Kelsey Wilhelm - August 13, 2024
agbrief.com/intel/deep-dive/13/08/2024/singapores-casino-control-act-amendments-plugging-holes-and-removing-inefficiencies-expert/

Singapore’s recent proposed change to its Casino Control Act (CCA) is a “timely amendment,” notes Tier 1 gaming lawyer Lau Kok Keng, indicating that the move “reflects a continuing commitment by the government towards maintaining a robust regulatory framework for legalized casinos in Singapore”.

In response to AGB inquiries, the Partner and Head of Gaming Law Practice at Rajah & Tann Singapore LLP, indicate that the updates are aimed at plugging gaps in the current framework “which have been created due to advancements in technology and changes to the way gambling and casino operations are or may in the future be carried out”.

Lau Kok Keng, Partner and Head of Gaming Law Practice at Rajah & Tann Singapore LLP

When announcing the proposed updates at the bill’s first reading, authorities indicated that they wanted to future proof Singapore’s casino sector.

This includes allowing the Gaming Regulatory Authority (GRA) to regulate all other forms of gambling offered in casinos, expanding its oversight beyond just games of chance to betting and lotteries.

“The effect of such an amendment would potentially open the door for future betting and lotteries to be offered within casinos, perhaps within the context of collaborative tie-ups between the casinos and Singapore Pools, although it is uncertain if this will ever take place,” notes the gaming law expert.

Authorities were clear to note earlier this month that there are no current plans to introduce betting and lotteries within casinos.

Sports betting and lotteries are currently operated in Singapore under Singapore Pools, allowing football and motor racing betting, horse racing, 4D, TOTO and Singapore Sweep Lottery.

Focus on operators

Other future proofing measures are also to be introduced, allowing the GRA’s Evaluation Panel to take into account “future industry standards and market demands”.

Lau Kok Keng indicates this is not likely in response to regional competition, but “is instead likely to be motivated by the primary benefits behind considering not just prevailing […] but also future market demand and industry standards,” meaning “the evaluation panel can assess whether an integrated resort will remain relevant and competitive in the long term, as well as whether the resort is positioned to capitalize on anticipated industry shifts and stay ahead of competition”.

This can also help ensure integrated resort operators “will be in position to comply with anticipated regulations and industry practices, reducing the risk of subsequent costly adjustments or unexpected legal issues”.

Information sharing and future liability

One major shift is legislating that casino operators (COs) will be able to directly share personal information on patrons without the patron’s consent.

This “allows the casino operators to take quicker action at their end” in regard to information which could be pertinent to combat money laundering, terrorism financing and proliferation financing risks. The current framework is “operationally inefficient” as all such information exchanges had to be facilitated by the GRA.

The changes also mean that “casino operators are liable to disciplinary action if they contravene their obligation to disclose risk information as required by the GRA’s written notice […] and/or disclose risk information received or accessed under this section to other persons, unless lawfully required to do so”.

Casino operators, under the newly proposed framework, can also be found liable for regulatory breaches even after their licenses have lapsed, if the action occurred before the lapse.

“This move applies not only to casino operators, but also to special employees, international market agents and international market agent representatives,” highlights the gaming law expert. This extended liability period already applied to “other non-casino gambling licensees regulated under the GCA (Gambling Control Act). Hence this amendment is also another move to bring the CCA (Casino Control Act) in line with the GCA in this regard”.

Oversight and protection

While many of the updates focus on expanding possibilities, authorities are also aiming to crack down on cheating, improving the Casino Control Act to cover scenarios not previously envisioned in 2012.

One such move is to label an offense withdrawing bets after the result of a game is known. According to reports cited by the lawyer, 10 people were investigated for this activity between 2010 and 2023. “To avoid the police having to use offenses in other laws to deal with such cheating cases, the proposed amendment right-places this offense under the CCA,” notes the expert.

And while crime at Singapore’s casinos has historically been low (at just 137 reported cases in 2023, or 0.2 percent of all reported crime cases), “the move to take steps to establish new offenses under the law to deter casino-related crime thereby further protects the integrity of gaming operations”.

Virtual instruments and crypto?

Also looking ahead, authorities are aiming to allow the introduction of new wagering instruments, namely virtual credits.

This, notes the expert, could help improve both operational efficiency and the player experience, reducing transaction costs caused and potential fraud linked to fiat.

“Nonetheless, it should also be pointed out that […] these new wagering instruments will only be introduced should the GRA assess them to be suitable. As such, there is unlikely to be an immediate move towards crypto adoption, though this change certainly does signal the recognition of the benefits that such virtual credits can bring”.

While cryptocurrency is not currently considered legal tender in Singapore, it can be used as an alternative means of payment and it appears to be open to crypto use – evidenced by changes in April by the Monetary Authority of Singapore (which regulates crypto) focused on digital payment token (DPT) service providers.

Given its continual evaluation of the gaming framework, Singapore is likely to continue to adjust legislation and regulations to ensure its strict compliance with Financial Action Task Force (FATF) standards, promoting a healthy and vibrant gaming industry in the Merlion city.

Last Edit: Aug 13, 2024 8:34:12 GMT -5 by Blitz