New regulatory body in Singapore
The new regulatory body on gambling takes over in Singapore which was approved on 11 March.
This new authority is called Gambling Regulatory Authority of Singapore (GRA) And it was created after the country expanded the mandate of the existing body.
Ma Let’s find out more about the Gra Gamba laws about Gambling in Singapore In this article drawn up by our sector experts.
The new regulatory body in Singapore: the Gra
As mentioned, a new regulatory body was created in Singapore on gambling after On 11 March the new law relating to the casino and betting industry passed.
This new entity is called Gambling Regulatory Authority of Singapore e He takes the place of the existing authority, the Casino Regulatory Authority of Singapore (Cra).
The GRA now deals with check and regulate everything related to gambling in the state, and no longer just the affairs related to casino.
So what changes?
With the approval and entry into function of the new regulatory body in Singapore The government wants to make the control mechanisms more agile in the gambling industry.
Before now, the industry was regulated by several agenciesnull Each agency had its offices and staff, which It involved a high management cost and a more complex bureaucracy.
Now, with the approval of the Gra and with the modification of the legal legal laws, The city has been aiming to reduce costsnull But not only that, too the number of employees of the entities and also the timing of action of the regulator.
The declarations on the new regulatory body in Singapore
The government, on the new regulatory body in Singapore, said: “The Gra Act establishes that the Gra is the only regulator for all forms of gambling in Singapore”.
Desmond Tan, the Minister of State, during the parliamentary question he explained: “The regulation of gambling is currently supervised by several government agencies. For example, iL cross regulates casino; The MHA gambling regulation unit regulates online gambling services and Fruit Machine today; and the Singapore Totalisator Board regulates physical gambling services in Singapore Pools”.
And then added that there will also be improvements due to consolidation of legislation and regulation of gamblingnull Becoming the only regulatory body, the Gra can combine resources and skills to deal with the problem.
“The institution of the Gra will be neutral from the point of view of government resources. The labor will be transferred together with the transfer of the functions. This It will not involve an excess of employees. In addition to supervising existing regulatory regimes, The GRA will also supervise the new regulatory regimes. For example it will follow The new game of gambling licenses in private premises and class licenses for low -risk game products.”, concluded by saying the minister on the new regulatory body in Singapore.