Cashless bets to be allowed in Singapore casinos: govt

Sep 11, 2024 Newsdesk Latest News, Singapore, Top of the deck  

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Changes to operational rules to permit cashless gaming, and adjustments to how Singapore’s casino duopoly is managed at a political, strategic level, are among updates for the industry in Singapore’s Casino Control (Amendment) Act, which was passed on Tuesday at a second reading in parliament.

Other updates mentioned at the time of the first reading in August included enabling the city’s two casino operators to share patron data – without customer consent – for the purposes of tackling money laundering, terrorism financing and weapons proliferation financing.

On Tuesday Sun Xueling (pictured), Minister of State for Home Affairs and for Social and Family Development, told parliament that under the law update the city-state’s two casinos – Resorts World Sentosa run by Genting Singapore Ltd, and Marina Bay Sands, operated by a unit of Las Vegas Sands Corp – will be allowed to conduct cashless gaming.

This was part of steps to “future proof the regime” for gaming regulation in the city-state.

But she said the Gambling Regulatory Authority (GRA) had “no intention of allowing cryptocurrency to be used as chips for casino gambling, as this presents money laundering risk”.

An example of what could be allowed, was a casino patron placing wagers “at either the gaming tables or gaming machines by drawing down virtual credits directly from his cashless gaming account or e-wallet,” she said.

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

Though she added the operators “must demonstrate how they would ensure that the gaming software cannot be used outside the casino, for instance, using geofencing technology”.

Ms Sun stated the amendment was drafted after 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 to boost the country’s tourism sector and add value to the economy.

Ms Sun stated, referring to the office of Minister of Home Affairs, “it is therefore more appropriate for the minister, rather than the GRA, to be the authority to approve divestments and acquisitions relating to main shareholdings” of the casino operators.

This was “to ensure continued alignment between the IRs [integrated resorts] and the Singapore government’s strategic objectives”.

Other matters covered by the legal amendment include establishing criminal liability of casino patrons and others for specified activities, in a bid to “deter casino-related crime and protect the integrity of gaming operations”.

It is now an offence to withdraw a bet after the result is known; and to make recordings of the operation of gaming machines and also of table games.

The law update also accounted for a previous administrative oversight that had seen the casino entry levy charges – for 24-hour or annual casino-entry passes applicable to Singapore citizens or permanent residents – automatically revert to pre-April 2019 levels.

The amendment restores parliament’s original intention of casino entry levies being at SGD150 (US$115) per day and SGD3,000 yearly.

Breaching a family visit limit at Singapore’s two casinos will become a punishable offence under the changes to the law. Anyone doing so could be fined up to SGD10,000 and jailed for up to a year if found guilty.

(Updated 10.09am, Sept 11)

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