The Singaporean government plans to put in place a new regulation of gambling from January 2021. The latter will expand throughout the gambling market. According to the Ministry of the Interior, this new regulation will allow the government to have better monitoring and a better capacity to adapt to evolutions and emerging trends in the market.

This may have an impact on the way Singaporeans place their bets in the real world of gambling. However, its effect on online gambling sites such as the 918kiss is yet to be known.

Singapore eyes new laws, regulations to bolster safety and security

New, broader regulations

The regulations in force in the Republic of Singapore will soon be replaced in the coming months. Indeed, the period chosen for this operation is the first month of the year 2021. The announcement was made by the spokesperson for the country’s Interior Ministry, through an email sent in response to a media. The new regulatory framework that Singapore plans to put in place will regulate the entire gambling sector in the country, in particular through a new body. A name has already been found for the latter. It is called Gambling Regulatory Authority. The country’s Interior Ministry said that discussions have taken their course despite the coronavirus pandemic and that the current Casino Regulatory Authority will indeed be replaced.

In reality, this announcement is not new information. Earlier in the current year 2020, in April, the head of the ministry cited above announced the project to set up a new regulator for the gambling sector in Singapore. There is already a regulatory system, but obviously, the government thinks it may be improved. In fact, the current regulations further frame and regulate land-based gambling operators. This is quite limited, given that the contemporary gambling market is divided into two parts made up of a virtual part, or online, and a land part.

Monitoring and alignment with new trends constitute the added value of the new regulations

Regarding the reflections carried out by the Ministry of the Interior, certain studies in progress related to the laws and regulations which currently govern the gambling market. You should know that the regulations of the Singaporean gambling market allow for the moment two land operators, and products such as horse betting, Singapore Pools’ 4D, and Toto. By putting in place a new legal framework, the government wants the country to be able to follow and regulate new trends, and emerging trends in this sector of activity, whether in terms of gaming, technological model, or economic model. According to the Home Office, the new regulations will therefore have a more inclusive approach.

The two operators currently operating under the current regulator are Marina Bay Sands and Resorts World Sentosa. The former is managed by operator Las Vegas Sands, while the latter is controlled by Malaysian operator Genting Group. Last year, the two casinos renewed their exclusive contract with the Singaporean authorities for a period up to 2030, and an amount of S $ 4.5 billion. But that did not protect them from the pandemic all the press is talking about. The two casinos obviously suffered from the coronavirus health crisis that raged for several weeks. They only reopened in early July, and partially. Last August, the executive director of the tourism office, Mr. Keith Tan assured that the slack caused by the disease has been taken into account, and will result in an extension of the duration of the contract.