GGRAsia – Cashless betting to be allowed in Singapore casinos: govt

Changes to operational regulations to enable cashless gaming and modifications to the way Singapore’s casino duopoly is managed at a political and strategic level are among the industry updates contained in Singapore’s Casino Control Amendment Act, which passed its second reading in Parliament on Tuesday. The Act includes changes to operational regulations to enable cashless gaming and modifications to the way Singapore’s casino duopoly is managed at a political and strategic level.

Other updates mentioned during the first reading in August included allowing two casino operators in the city sharing patronage data – without the customer’s consent – ​​for the purposes of combating money laundering, terrorism financing and arms proliferation financing.

On Tuesday, Sun Xueling (pictured), minister of state for internal affairs and social and family development, told parliament that under the updated law, two casinos in the city-state – Resorts World Sentosa run by Genting Singapore Ltd. and Marina Bay Sands, operated by unit Las Vegas Sands Corp. – would be allowed to conduct cashless gaming.

This was part of an effort to “system-proof” the city-state against changes to gambling regulations.

However, she added that the Gambling Regulatory Authority (GRA) “had no intention of allowing cryptocurrency to be used as casino gaming tokens as it poses a money laundering risk.”

An example of what could be permitted is where a casino customer places bets “at gaming tables or slot machines by withdrawing virtual funds directly from their cashless gaming account or e-wallet.”

Under the amended Act, the GRA can now also approve gaming software – on mobile devices – in casino premises, Ms Sun said.

However, she added that operators “must demonstrate how they will ensure that gaming software cannot be used outside the casino, for example by using geofencing technology”.

Ms Sun said the amendment was developed following a review by the Ministry of Home Affairs, the Ministry of Social and Family Development and the Ministry of Trade and Industry.

She reminded Parliament that the Singapore government’s decision to allow casinos was aimed at boosting the country’s tourism sector and adding value to the economy.

Ms Sun said, referring to the office of the Home Minister, that “it is therefore more appropriate for the Minister, rather than the GRA, to be the body approving the disposal and acquisition of major shareholdings” of casino operators.

This was to “ensure continued alignment between the IR (Integrated Resorts) and the strategic objectives of the Singapore Government.”

The law update also addressed a previous administrative oversight that saw casino entry fees – for 24-hour or annual casino passes applicable to Singapore citizens or permanent residents – automatically revert to pre-April 2019 levels.

The amendment restores Parliament’s original intention to set casino entry fees at S$150 ($115) per day and S$3,000 per year.

Breaching family visitation limits at two Singapore casinos will become a punishable offence under changes to the law. Anyone found guilty could be fined up to S$10,000 and sentenced to up to a year in prison if found guilty.