Singapore regulator signs deal with Nevada authority

Finalised late last week in Las Vegas by Mark Lipparelli, Chairman for the NGCB, and Raja Kumar, Chief Executive Officer for the CRA, the memorandum marks the first agreement Singapore regulators have signed with another international gaming regulator.

“Our relationship with the NGCB goes back to the days when the CRA was first being set up and still learning the ropes in this industry,” said Kumar.

“Nevada’s experience in regulating casinos and its open sharing on regulatory best practices have been useful to the CRA as we were developing the casino regulatory framework for Singapore. I am pleased to cement our close working relationship with this memorandum of understanding and look forward to working with Nevada in all aspects of casino-related exchanges.”

The agreement will see the pair share ‘information, expertise, knowledge and skills’ while organising exchange visits and training courses in addition to holding annual bilateral meetings. “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,” said Lipparelli.

“The CRA has established a respected plan for regulation and it shares many of our philosophies for appropriate regulatory oversight. 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,” he concluded.