Daily Asia Gaming eBrief: Proposed law changes to future-proof Singapore gaming industry

Thursday 8th of August 2024

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Good morning. Always thinking ahead. That's been Singapore's viewpoint in regards to not only ensuring FATF compliance, but also predicting where the gaming industry will find itself in the future. New proposed amendments to the gaming framework focus on oversight and player protection, but also streamline procedures for manufacturers and operators, while introducing the possibility for sectoral expansion. Meanwhile, Wynn Resorts is highly focused on the UAE, with construction on Wynn Al Marjan Island progressing smoothly and a positive view on ROI.

What you need to know

Singapore aims to increase oversight of casinos, improve framework, with new amendments to Casino Control Bill.
The UAE’s strategic location gives confidence in the success of the future Wynn Al Marjan Island project: Wynn Resorts CEO.

On the radar

Light & Wonder: 13 consecutive quarters of consolidated revenue growth.
Cyber-enabled fraud converges with gaming industry in SE Asia: UNODC.
IGT appoints Nick Khin as the new President for Global Gaming.
Mohegan appoints Joseph Hasson as global Chief Operating Officer.

AGB Intelligence

SINGAPORE

Changes to Casino Control Bill to future-proof gaming industry

Singapore recently presented proposed amendments to the city-state's Casino Control Bill, aiming to future-proof the industry by adding some interesting components which could allow the expansion of the sector in the coming years. Focusing on operator responsibility, increased oversight and player protection, the new changes include patron data sharing amongst operators, increased offenses for different types of play and even allowing virtual instruments to serve as betting chips.

Corporate Spotlight

How 1xBet dominates the Asian market: conditions and approach

1xBet operates in several dozen countries in Asia, and the number of partners in this region is growing steadily, which indicates the effectiveness of the 1xPartners affiliate program. The brand offers favorable conditions and a modern set of tools for making money on the Internet.

Know Your Enemy: An Interactive Guide to Online Gaming Fraud

Sumsub, Online Gaming Fraud, verification platform

Online gaming fraud is on the rise in the iGaming industry. In Q1 2022, there was an 85% increase in fake account registrations compared to Q4 2021. While players are undoubtedly affected by gaming fraud, iGaming platforms also suffer due to damaged reputations, huge financial losses, and legal consequences.