SINGAPORE - Mr Lee Tzu Yang will take over as chairman of the Casino Regulatory Authority (CRA) from April 2, the Home Affairs Ministry (MHA) said in a statement on Monday.
Mr Lee, now the deputy chairman, will succeed Mr Richard Magnus, retiring as chairman after seven years in office.
Thanking Mr Magnus for his contributions, the MHA sasid he 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 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 amongst its international peers."
Mr Magnus, a former senior district judge, is currently also chairman of the Public Transport Council, a position he took over from Mr Gerard Ee last May.
Mr Lee also serves as chairman for the Esplanade and the Workplace Safety and Health Council. He was formerly chairman of Shell Companies in Singapore.
Set up in 2008, the CRA is tasked with administering and enforcing the Casino Control Act, passed in 2006 to regulate casino operations in Singapore and contain the possible harm casinos might cause to society at large.