Japan looks to Singapore as model
Singapore’s Second Minister for Manpower and Home Affairs Josephine Teo is urging the government to overhaul its casino regulations and consolidate its regulatory agencies to create a single governing entity.
The Straits Times reports that Singapore currently has different regulations and agencies overseeing casinos, remote gaming and fruit machines operated by private clubs.
Speaking at the annual Workplan Seminar of the Casino Regulatory Authority on April 20, Teo said. “This piecemeal approach will not be sustainable or adequate to deal with the growing complexities of the gambling landscape and products.”
One challenge is increasing regional competition, she said. “Competition for tourism revenues will get more intense. Many jurisdictions are keenly studying our integrated resort concept. Our IRs will be anxious to stay ahead of the competition.” Among the markets looking to Singapore as a model is Japan, which legalized casino gaming in December 2016. Some analysts say it could become the second largest gaming jurisdiction after Macau, or even surpass the Chinese territory.
The good news is that since 2010, when the integrated resorts started operations, casino-related crime has remained a small proportion of overall crime in Singapore—less than 1 percent. “We have not detected organized crime linked to casino gambling taking root here,” said Teo. Problem gambling is also under control, at below 1 percent, she added. “This is lower than problem gambling rates in other places, like the US, Canada and Macau.” Teo called on the Casino Regulatory Authority to build up “stamina, capabilities, strategies and integrity” to adapt to an evolving industry.
