Inside Asian Gaming

IAG JUL 2023年7月 亞博匯 84 COLUMNISTS gambling services, in addition to ancillary offences, such as fraud, loan sharking and money laundering. The Ministry of Social and Family Development and the National Council on Problem Gambling deal with societal issues caused by gambling. Singapore’s regulatory regime is now often cited as an example of a successful regulatory model, and one to be emulated by other jurisdictions. Japan, for example, has been widely reported as planning to follow the Singapore model, and observers have also recommended the Singapore model to Thailand’s legislators should they decide to legalize casinos. Singapore was ahead of the curve on junket issues. The initial gaming law in 2006 did not prohibit junkets but, instead, required licensing and a variety of operational and AML controls. To many in government and law enforcement, strict regulation of the junket industry – even if that meant no local junket industry – was in line with the overarching policy of keeping organized crime out of Singapore. History has validated Singapore’s approach to junkets in light of recent changes in Macau and the scandals related to the Crown Resorts and Star Entertainment Group casinos in Australia. Since the opening of the two IRs in 2010, Singapore has had many detractors claiming that its regulatory system is too strict and rigid to allow its gaming industry to blossom. Yet, the industry is one of the most successful in the world. Thorough investigations of the probity of casino and key employee license applicants and international market agent (junket) license applicants