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Singapore 's Casino Regulatory Authority (CRA) entered into a Memorandum of Understanding (MoU) with the Nevada Gaming Control Board (NGCB) , this week.
The agreement, a first for Singapore, paves the way for enhanced collaboration in gaming regulatory issues between the two bodies.
Sharing of information, knowledge and skills, expertise and exchange visits and training fall under the agreement as well as an annual bi-lateral meeting between the two.
T. Raja Kumar , CRA said: “Our relationship with the Nevada Gaming Control Board goes back to the days when the CRA was first being set up and still learning the ropes in this industry. Nevada’s experience in regulating casinos and their open sharing on regulatory best practices have been useful to the CRA as we were developing the casino regulatory framework for Singapore.”
Mark Lipparelli , Chairman, NGCB added: “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. The CRA has established a respected plan for regulation and they share 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.”
Source: InfoPowa News