According to GGR Asia, on August 15, Singapore, a city-state in Southeast Asia, officially launched a new gambling regulatory department.
The department was named Singapore Gambling Regulatory Authority (GRA). It will continue to carry out the functions of the Casino Regulatory Authority, which previously dealt with the regulation of the country’s gambling sector. At the same time, the functionality of GRA will be wider.
The launch of the department is an important step towards strengthening the regulation of the gambling business in Singapore.
Government representatives, note that GRA will deal with issues related to the development of gambling on the Internet, the use of cryptocurrencies and new technologies in gambling.
The GRA is being promoted as the unified regulator of all forms of gambling in Singapore, which will allow the authorities to effectively monitor technological and gambling trends, respond to emerging gambling products and apply a consistent approach to the implementation of gambling policy.
There are currently two major casino resorts open in Singapore. One of them is Marina Bay Sands, which is managed by a division of the American company Las Vegas Sands Corp, the second is Resorts World Sentosa, owned by Genting Singapore Ltd.
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