How to Start a Casino Business in Singapore: Guide to Casino & Online Casino Solutions

Are you planning to open a lucrative online casino in Singapore? Are you searching for a guide on Singapore’s iGaming regulatory landscape? Are you looking for a reliable software provider for your Singapore casino market entry? Well, you’ve found the right blog.

Singapore’s casino industry is essentially a lucrative and glamorous casino market with a strict regulatory landscape. The land-based casino market in Singapore is based around two iconic integrated resorts, named the Marina Bay Sands and the Resorts World Sentosa. However, when it comes to online casinos, the regulations are much stricter. The local casino industry is controlled by the Gambling Regulatory Authority (GRA) under the Casino Control Act.  

This blog offers a comprehensive guide on how to start a casino business in Singapore – it offers details on Singapore’s casino landscape, including licensing requirements, compliance roadblocks, viable business models, and ideal strategies. It also offers insights into key market opportunities and provides a description of why GammaStack offers robust iGaming platforms that are ideal for iGaming market entry in Singapore.

Overview of the Casino Business in Singapore

Here is a basic overview of the casino industry in Singapore. You can get insights into prevalent market opportunities, the legal environment, and the prevalent casino industry scenario.

Market Landscape & Legal Environment

Singapore’s gambling market is heavily regulated by the Gambling Regulatory Authority (GRA), which was established under the Gambling Control Act of 2022 and under the Casino Control Act. There are two major integrated resorts – the Marina Bay Sands and the Resorts World Sentosa – that dominate the land-based casino operations in the country, with a particular focus on high-net worth players and tourists. However, regulations for online casinos are stricter – the Remote Gambling Act (RGA) from 2014 prohibits online casinos. However, certain exemptions can be used for market entries. In addition, the growth rate for the online casino market is also strong, with a strong projected growth rate for the near future.  

Key Opportunities for Casino Entrepreneurs

Singapore provides a key opportunity for upstart online casino operators because of the high per-capita disposable income possessed by citizens and the increase in demand due to the limited amount of physical casinos. Crypto-integrated and mobile-based online casinos are popular with an increasingly digitizing Singaporean economy. Furthermore, operators can also target other Southeast Asian nations through compliance-friendly setups and leveraging blockchain-based mechanisms for fast and secure transactions. 

Casino Business Licensing in Singapore

Confused about the licensing scenario for Singapore casino startups? Here is a detailed guide on the business licensing requirements for land-based casinos in Singapore –  

Casino Regulatory Authority & Requirements

The GRA regulates all the gambling activities for land-based Singapore casinos, and it stipulates that operators need to prove financial stability, follow AML/KYC compliance, and provide responsible gambling tools. As an operator, you also need to provide integrated casino resort plans, technical audits, and extensive solvency checks. 

Steps to Apply for a Casino License

For the application for online casino licensing in Singapore, you need to undergo the following steps – 

• Prepare an Application Package – you need to provide the documents as per the GRA’s required checklist, which includes an application letter, financial statements proving solvency, AML/KYC compliance proof, business plan, etc.

• Undergo Review and Vetting Processes – the GRA offers checks and verifications on the operator, which include site inspections and compliance tests. 
• Submission to GRA – you can submit the hard copy and soft copy documents to the GRA office, and also provide the application fees and undertakings. 

• System Evaluation – your casino system and its game gets evaluated by the authorities. You need to provide executables, source codes, and game artworks. In addition, demonstration tests may also occur. 

• Await GRA Decision – you need to await the decision taken by GRA for your casino operation. Once approved, pay the license fees where applicable and implement responsible gambling measures. 

Compliance & Legal Considerations

You need to also consider basic data regulations like data privacy rules according to the PDPA (Personal Data Protection Act), biometric verifications, and advertisement restrictions. In case you fail to implement these measures, you can risk heavy fines or even imprisonment – you also need to keep in mind the responsible gambling features in the casino to align with GRA standards.

Casino Business Models in Singapore

Here is an overview of the prevalent casino business models in Singapore – 

Land-Based Casino Business

Integrated casino resorts are one of the most profitable and recognizable forms of casino businesses in the country – they offer a variety of interesting slot and table games that generate huge revenue. In addition, startups also face a large scale of investments and competition from established operators. A large part of the revenue volume in this sector is driven by tourists. 

Online Casino Business Model

The Remote Gambling Act limits local forms of online casinos (except for a few online gambling platforms like Singapore Pools). Hence, online casino operators need to adopt offshore online platforms with slots, live dealer games, and sportsbooks. As an operator, you can monetize rake, bonuses, and affiliates to earn quick profits. A lower financial entry barrier for online casinos is also more suitable for online operators. 

Hybrid Casino Solutions

These forms of casino solutions basically combine casino resort-based apps with online wallets for a seamless VIP playing experience. Omnichannel play and cryptocurrency support increase retention, which bridges regulated land operations with scalable revenue streams. 

Online Casino Solutions for Singapore Operators

Here is a brief overview of online casino solutions that you can use to start up your operations in Singapore. 

What Are Online Casino Solutions

These are online software solutions (which can be completely customised, turnkey, or white label) that serve as platforms for playing your favorite casino games. They have back office management tools, API-based integrations, RNG-powered fairness systems, and legal compliance features. 

Benefits of Online Casino Platforms

The benefits of online casinos include a quick launch, significant control over branding decisions, lower revenue sharing, easy scalability, consolidated analysis features, and extensive omnichannel capacity, which can be used to target Singapore’s mobile-first users. 

Choosing the Right Solution for Your Business

You need to first check your online casino software and evaluate its compatibility with the RGA norms, mobile-friendly architecture, and partnership with trusted payment gateways. You can also integrate AI-driven anti-fraud systems and multi-currency compatibility for regional expansion. 

Role of Online Casino Software in the Singapore Market

The role of online casino solutions in the business expansion within the Singapore market can be explained in various aspects. 

Why Online Casino Software Matters

A dynamic online casino software offers security and fair gaming experiences in a scrutiny-intensive market like Singapore – you can use it to power up engagement through personalization. It also performs soundly during GRa-based audits, which drives up loyalty in high-income player sections. 

Key Features of Effective Online Casino Software

If you want robust online casino software, you need to look for a variety of effective features, including live chat systems, bonus engines, certified RNG games, and backend management systems. In addition, you also need omnichannel UI/UX systems and analytical tools.  

Integration With Payment Gateways & Security

You need to integrate your casino platform with a variety of payment gateways (which are compliant with MAS or the Monetary Authority of Singapore) and security features, including e-wallet features, crypto payment gateways, blockchain-based digital ledgers, and anti-fraud tools. These help your software to prevent financial loss and inspire player trust. 

Building Your Casino Business Plan

Planning to start up your casino business plan in Singapore? Here are some key criteria that you need to keep in mind – 

Financial Planning & Startup Costs

While the initial budget for online casinos may start at $50k, land-based casino budgets can go beyond $50M. Also, you can forecast in incomes from rake and VIP yields. In order to gain secure funding, you can approach investors or take loans.

Marketing Strategy & Player Acquisition

You can leverage various marketing techniques for creating a robust market strategy and engaging in player acquisition – you can optimize SEO-based practices, affiliate-based marketing, and social media marketing (be mindful of the local gambling ad regulations), while also focusing on CRM-based retention initiatives to increase overall player LTV. 

Operational Planning & Team Structure

You also need to assemble a team of support staff that can keep your operation running smoothly, including compliance officers, support team, and development team. You can also include round-the-clock platform monitoring systems for increased reporting and efficiency. 

Common Challenges When Starting a Casino in Singapore

There are several limitations and roadblocks that an operator may face while launching their casino business in Singapore. Some of these include – 

Regulatory & Compliance Challenges

GRA-mandated approvals can take time and consequently delay launches, while RGA-based enforcement makes the operation of online casinos extremely difficult. In addition, operators need to constantly deal with audits and adapt to adaptive policies. In addition, you also need to be careful while advertising your online casino.

Technology & Software Adoption Challenges

Cyber-based threats can require robust firewall-based protection. In addition, outdated software can also hinder scalability-based upgrades in a fintech-based platform. Hence, you constantly need to keep your platform updated and compatible with the latest software. 

Player Retention & Engagement Issues

In a digital-savvy society, operators need to make their platform count to stand out from competing apps and keep the consumer base steady. They can do this by reducing player churn through gamification tools, live events, and responsible gambling tools. 

How GammaStack’s Casino Software & Solutions Can Help?

GammaStack is one of the premium casino software providers that can help make your casino business in Singapore a resounding success. We offer dynamic, bespoke, white-label, and turnkey solutions that play a crucial role in growing your Singaporean casino business.

Here are some of the salient features of our online casino software products – 

Online Casino Platform Development Services

We offer premium casino platform solutions with thousands of immersive games from premium content providers, dedicated support for crypto and fiat payments, anti-fraud security systems, omnichannel support, responsible gaming features, a content management system, and a strong backend and player reporting system. We also offer realistic and swift launch timelines, so that you can have a seamless casino launch.

24/7 Support & Maintenance

Even after the casino software is deployed, we look out for your iGaming needs – we provide constant updates, 24/7 monitoring, and consultation, which helps in ensuring platform uptime and regulatory compliance. 

In addition, GammaStack also offers many other benefits in its online platform for operators, including – 

• More than 14 years of industry experience
• A dedicated team of more than 500 professionals
• Low/No GGR share
• Integration of the latest technical features
• Localisation support for multiple time zones, languages, and currencies.