Singapore lawmakers have changed the nation’s Casino Control Act to allow cashless gaming at the two casinos in the city. The only exception is that cryptocurrencies are not permitted due to the possible money laundering risk, so people will have to stick with virtual credit cards and e-wallets.
The Minister of State for Home Affairs and Social and Family Development announced the decision on Tuesday, which eliminates the need for gamblers to exchange physical cash for playing chips.
change will strengthen security, create more efficiency
Lawmakers believe this move will strengthen security, create more efficiency by reducing the amount of cash casinos handle, as well as incentivize younger people who don’t use physical cash in their daily lives.
The changes won’t take effect straight away as Resorts World Sentosa and Marina Bay Sands need to upgrade their systems to allow cashless gaming.
Other amendments also came into place on Tuesday relating to the region’s casinos. The two properties can now share the data of patrons without their consent if it’s to combat terrorism financing or money laundering. Operators will also have the ability to offer mobile gaming on their premises if they get approval from the Gambling Regulatory Authority.