By Ng Jing Yng, TODAY | Posted:
30 July 2011 0628 hrs
SINGAPORE: The presence of the Integrated Resorts
(IRs) here has not caused a spike in the number of gambling
addicts, said Casino Regulatory Authority (CRA) chairman Richard
Magnus on Friday, citing a study done by the Institute of Mental
Health.
Speaking at a question and answer session at the 23rd Singapore Law
Review Annual Lecture, Mr Magnus said that the study concluded that
gambling addiction numbers before and after the establishment of
the IRs remained the same.
What the IRs did, though, was provide "just another avenue for
gambling", said Mr Magnus.
He added: "The thinking is that some of these gamblers moved away
from the traditional gambling areas and move into casinos."
Responding to a question on the social impact of casinos, CRA chief
executive Lau Peet Meng, who was also at the event, revealed that
the authorities are studying overseas models where it is compulsory
for gamblers to declare how much they want to lose before they step
into the casino.
Currently, patrons to the IRs here can voluntarily cap their
gambling outlay.
On the call for greater transparency with regard to the number of
Singaporeans entering the casinos, Mr Lau agreed that this could be
looked into.
"It is ... probably one of the aspects of the (Casino Control) Act
(that) we need to look at more carefully, which is the legality of
the information and how the information shared can be used," he
said.
But Mr Magnus reiterated: "I can perhaps give you the assurance
that the local urban legend that quite a number of our locals or
PRs frequent the casinos ... is just a legend."
Mr Magnus noted that several challenges lie ahead in the regulation
of the IRs.
Apart from the "creative ways of money laundering", the casino
industry might also change in the years ahead from one that is
incentivised to self-regulate - due to the high profits - to one
where the industry turns stale.
Earlier in his speech, Mr Magnus also said that, while the
authorities hope that the IRs are "mature participants who see the
value of self-regulation ... we cannot discount the possibility of
market failure".
He added that there will be occasions where the casino operators
and regulator will not view self-disclosure as a win-win situation
and that will be when CRA needs to intervene. - TODAY
