Singapore Introduces Cashless Bets and Tougher Casino Regulations

Singapore’s parliament has passed significant updates to the Casino Control Act, introducing new measures aimed at modernizing the industry and enhancing regulatory oversight. The changes, which were approved in a second reading on September 10, 2024 include provisions for cashless gaming and stricter operational rules for the city-state’s two casino operators.

Under the new legislation, Resorts World Sentosa, operated by Genting Singapore Ltd, and Marina Bay Sands, managed by a unit of Las Vegas Sands Corp, will be permitted to implement cashless gaming systems. Based on a report published by GGRAsia, this move is designed to “future proof the regime” for gaming regulation in Singapore, according to Minister of State for Home Affairs and for Social and Family Development, Sun Xueling.

While cashless bets will be allowed, cryptocurrency will not be accepted for casino gambling due to concerns about money laundering risks. Instead, patrons will be able to place wagers using virtual credits drawn from their cashless gaming accounts or e-wallets.

The updated act also gives the Gambling Regulatory Authority (GRA) the power to approve gaming software used on mobile devices within casino premises. However, operators must demonstrate that this software cannot be used outside the casino through measures such as geofencing technology.

In addition to these changes, the amendment addresses several other issues. It grants the Minister of Home Affairs the authority to approve major divestments and acquisitions related to casino operators, ensuring alignment with the Singapore government’s strategic objectives. The GRA will focus on regulatory aspects, while the minister will oversee significant ownership changes.

The amendment also introduces new criminal liabilities for casino patrons and operators to deter illegal activities and protect the integrity of gaming operations. Specific actions now deemed illegal include withdrawing bets after results are known and recording the operation of gaming machines or table games.

Further, the update corrects a previous oversight regarding casino entry levies for Singapore citizens and permanent residents. The levies, which had reverted to pre-April 2019 levels, will now be restored to SGD150 (US$115) for a 24-hour pass and SGD3,000 annually.

Additionally, breaching family visit limits at Singapore’s casinos will become a punishable offence. Violators could face fines up to SGD10,000 and imprisonment for up to one year.

Read related article: Singapore Proposes Bill to Tighten Casino Regulations