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The VCGLR and the Casino Regulatory Authority (CRA) of Singapore has entered into a Memorandum of Understanding (MoU).
It’s the first time we’ve signed an MoU with an international regulator.
It means we’ll be able to share information, expertise and technical knowledge and skills with the Singaporean casino regulator.
VCGLR General Counsel and Executive Director of Regulatory Policy and Legal Services, Scott May said the joint venture will pave the way for new opportunities.
“This is a significant milestone for both regulators as it will provide a strategic lens into the innovative work we’re doing in the areas of gaming technology, compliance, investigations and regulation.
“Subject to each of our laws and regulations, we’ll also have access to valuable information to help with investigations or regulatory actions, including into junket participants,” said Mr May.
He added, “Getting the MoU off the ground was complex and is something we’ve been working on for quite some time, but it was important to get it right so we can benefit from this mutual partnership”.
The MOU also has provisions for training opportunities so each regulator can learn more about each other’s operating environment, landscape and regulatory procedures.
“As a regulator we want to continue to apply responsive regulatory practices, including collaborating with our regulatory partners, as outlined in our Corporate Plan for 2020-23.
“This MoU between the Singaporean CRA and ourselves will allow us to continue to apply responsive regulatory practices. This collaboration with our regulatory partners will strengthen our intelligence capacity, as outlined in our Corporate Plan for 2020-23, with a view to ensuring that Victorians and visitors enjoy safe and responsible gambling and liquor environments,” said Mr May.