Singapore’s Gambling Regulatory Authority (GRA) is set to launch a public consultation on proposed updates to its Remote Games of Chance (RGOC) licence framework.
Although the current Gambling Control Act has been in force since 1 August 2022, the gaming landscape has continued to evolve. The GRA highlighted that many players now engage with in-game marketplaces to trade items like stickers, graffiti, weapons, and skins, typically via third-party platforms, since current regulations prevent Type 2 RGOC licensees from operating such services.
The GRA noted that these activities do not raise law-and-order or social concerns. As a result, a proposed amendment to Paragraph 3(b)(iv) would allow Type 2 RGOC licensees to establish in-game marketplaces where players can exchange prizes for cash or equivalent value.
The legislation is the following: “Operator does not, alone or under arrangement with any associate, provide a service whereby the prize is readily converted or made readily convertible into money, money equivalent or any thing else of value. The only exception is if the thing of value converted from the prize is used in in-game transactions when playing the same game or related games.”
Should operators establish in-game marketplaces for trading prizes earned through Type 2 RGOCs, they would still be prohibited from repurchasing those items from players.
The GRA emphasized that this restriction is intended to prevent “gambling inducement,” as allowing buybacks would effectively ensure “guaranteed monetisation” of the rewards.
The public consultation will remain open until 20 August.
In other developments, Genting Singapore has appointed Lee Shi Ruh as its new President and COO amid ongoing changes within its senior leadership team.
