THE Casino Regulatory Authority (CRA) will get a new chairman from Thursday, the Ministry of Home Affairs (MHA) announced yesterday.
Mr Lee Tzu Yang, who currently serves as the statutory board's deputy chairman, will succeed Mr Richard Magnus, who will retire as chairman after seven years in office.
Thanking Mr Magnus for his contributions, the MHA added that he has played a pivotal role in the development and implementation of Singapore's casino regulatory legislation and framework.
"Under his leadership, Singapore's casino regulatory regime gained international recognition as a robust and effective model that has been referenced by many other jurisdictions," the MHA said.
Deputy Prime Minister and Minister for Home Affairs, Mr Teo Chee Hean, also thanked Mr Magnus for his "steady leadership" of the CRA during its formative years.
"He has laid the foundations for a casino regulatory framework that is firm and fair," said Mr Teo.
"Beyond Singapore, he has helped CRA build a network of partners and establish itself as a well-respected regulator among its international peers."
Mr Magnus, a former senior district judge, has been the CRA's chairman since it was set up in 2008. He is also chairman of the Public Transport Council, a position he took over from Mr Gerard Ee last May.
His successor at the CRA, Mr Lee, serves as chairman of the Esplanade and the Workplace Safety and Health Council. He was formerly the chairman of Shell Companies in Singapore.
The CRA is tasked with administering and enforcing the Casino Control Act, which was passed in 2006 to regulate casino operators in Singapore and contain the possible harm that casinos might cause to society at large.
Under the Act, all casino operators have to apply to the CRA for approval before commencing operations here.