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Singapore to be 'online casino hub'

Singapore could be set to become a new hub for online casinos, according to reports.

It is thought that two major companies are considering building casinos in the country and that the government is considering a move to issue online casino licenses.

According to the report in the Singapore News Today, the Philippines is the only country in Asia that has legalised online casinos.

Tom Hall, president of Play Tech Asia, which provides software for online casinos, told the publication: "Singapore has fantastic technical support and infrastructure.

"Given a choice between the Philippines and Singapore, many will probably prefer Singapore."

There is thought to be a huge market for gambling in Asia, with many countries in the region pushing for the relaxation of laws to ensure that this new wave of popularity can be harnessed.

The news comes on the back of last week's Asian Casinos Executive Summit.