In a major piece of Singapore gambling news, the Casino Regulatory Authority has signed a Memorandum of Understanding (MOU) with the Great Britain Gambling Commission, in a move that could well lead to a sharing of ideas, regulation, and blacklisting of illegal operators.
The MOU was signed by the Chief Executive of CRA, Lau Peet Meng, and Commissioner and Chief Executive of the Gambling Commission, Jenny Williams, as the two organizations met at the annual International Association of Gaming Regulators (IAGR) meeting in Oslo, Norway.
One thing the move could signal is a change in Singaporean gambling laws to legalize online gambling. With no licensing framework in Singapore at the moment, there has been no way for any companies to set up legal, licensed online activities in the city state, and with the ongoing changes in UK gambling laws, Singaporean regulators and lawmakers could see this as a great way to share ideas and information.
Bringing online casinos in Singapore would help the local populace in their attempts to play casino games. While they have free access to the state run sportsbooks, when it comes to the massive casino resorts, any locals have to pay an exorbitant fee to get in.
The CRA has said that the MOU shows the commitment both parties have to collaborate in the sharing of information and knowledge, as well as exchange visits and training opportunities for staff from both sides.
Meanwhile, CRA Chief Executive Lau Peet Meng has taken over from Susan Hensel as the President of the IAGR. The Director of Licensing for the Pennsylvania Gaming Control Board became the first woman to lead the corporation in January 2012, and passes the baton over to the first Asian regulator to hold the position as Mr Lau will hold office until October 2014.