Daily Asia Gaming eBrief: Singapore passes amendments to Casino Control Act

Wednesday 11th of September 2024

1709253631

Good morning. Singapore is heading towards cashless play at casinos, with new amendments to its Casino Control Act passed. While the introduction of virtual credits is allowed, crypto has been ruled out due to money laundering risks. The bill also tweaks regulatory oversight, and increases responsibility for casino operators and those associated, aiming to future-proof the industry. Meanwhile, in Macau, analysts are seeing a slight dip in GGR after the strong summer period, with mixed expectations for the October Golden Week holiday.

What you need to know

Singapore passes amendments to Casino Control Act, paving the way for cashless but not crypto, and increasing oversight fluidity.
UBS reports a 5 percent decline in Macau’s daily GGR following the summer peak, influenced by seasonal trends and Typhoon Yagi.

On the radar

Las Vegas Sands increases its stake in Sands China by $100M.
PAGCOR to further lower online GGR tax rates for IR operators to 25 percent.
Philippines casino project costs drive International Ent. to $17.3M loss.
Singaporean gambler ordered to pay $25.3M gambling debt to The Star.
PAGCOR expecting delivery of 2K slot machines for Casino Filipino.
Chinese football bans 43 for life over gambling and match-fixing scandal.

AGB Intelligence

SINGAPORE

Singapore amendments to the Casino Control Act passed

Singapore has pushed ahead with amendments to its Casino Control Act. In a Tuesday Parliament session, lawmakers moved ahead with changes intended to future-proof the industry, including paving the way for a cashless environment in casinos, despite not going so far as to allow crypto. The changes focus regulatory authority on different bodies, while increasing oversight and responsibility for casino operators.

Corporate Spotlight

Altenar brings premium sportsbook solution to Asia

Altenar, a leading sportsbook provider is bringing its global expertise to Asia, looking to expand its operations. Since 2011, Altenar has powered hundreds of online sports betting sites worldwide and is a major B2B provider in Europe and Latin America licensed markets.

1xBet: The most popular gambling games and slots in Asia

For global betting company 1xBet, Asia is a key market for several reasons. This is why 1xBet pays special attention to the Asian market and actively promotes its sports betting platform and the most popular gambling games on the continent.