CASINO

Singapore, Nevada gaming regulators sign memorandum of understanding

TAGs: memorandum of understanding, Nevada gaming control board, Singapore

singapore-nevada-gaming-regulatorsSingapore’s Casino Regulatory Authority (CRA) and the Nevada Gaming Control Board (NGCB) have signed a memorandum of understanding that will foster greater collaboration between the two land-based gaming jurisdictions. Under the terms of the deal, the two regulatory bodies intend to share info and expertise, conduct exchange visits and hold an annual bilateral meeting. It’s the first such outside agreement for the CRA, while the NGCB signed a similar deal with the Alderney Gambling Control Commission in January.

NGCB chairman Mark Lipparelli described the MOU as a necessary step in an increasingly globalized casino world. “As our licensed gaming operators expand their businesses globally, we believe it is critical to establish and foster meaningful relationships with regulatory bodies in different parts of the world. This agreement makes formal the strategic ties we have developed with a respected regulator including benefits in the areas of exchanges of information on common licensees and reduction in cost and time spent for probity investigations.”

CRA CEO T. Raja Kumar remarked that the relationship between the two regulatory bodies “goes back to the days when the CRA was first being set up and still learning the ropes in this industry.” But the student seems poised to challenge its teacher. Despite having just two integrated resort casinos that haven’t even been operating for two years, Singapore is expected to eclipse Las Vegas as the world’s second-largest gambling destination (behind Macau). So is this a case of mutual respect and cooperation, or does the NGCB believe in keeping its friends close and its enemies (and/or competitors) closer?

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