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January 2023
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Singapore has finally integrated and launched its new Gambling Regulatory Authority which is tasked to preside over all of the gambling services existing in the country. The gambling body will replace the Casino Regulatory Authority which has been operating for a long time.
A new gambling regulator The new gambling authority will oversee all of the gambling activities that are active in Singapore like lotteries, horse racing, casinos, sports betting, and online gambling Singapore sites. The inauguration event occurred at the Suntec Singapore Convention and Exhibition Center on August 16. The Second Minister for Home Affairs, Josephine Teo administered the inauguration rites for the event. She mentioned that the new era of the gambling industry in Singapore has begun. She also pointed out that the industry of gambling has expanded into various editions due to the new technologies such as crypto gambling and virtual reality casino games. Challenges and missions Teo has also spoken about the several challenges that the new regulator will be facing in the future such as continuing the operation of gambling services while implementing the gambling laws in the country. She also mentioned simplifying the processes of approving licenses for gambling operators. The minister also said that the new gambling regulator is seeking to update the gambling statutes that are existing in the country such as the Casino Control Act. The new system will also cover the two integrated resorts in the nation—Resorts World Sentosa and Marina Bay Sands. Additionally, the new gambling authority will do everything within all of its power to reduce the illegal gambling activities that are occuring in the country. It is clear that the new Gambling Regulatory Authority sets a fresh start to the industry of gambling in Singapore. Additionally, it will integrate all of the authority over all of the gambling services in the country.
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