Singapore Regulator Slaps Record Fines on City’s Two Casinos - W88club

Singapore Regulator Slaps Record Fines on City’s Two Casinos

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Singapore Regulator Slaps Record Fines on City’s Two Casinos

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Singapore’s casino regulator has slapped record fines on the city-state’s two casinos during the previous fiscal year, local news outlet the Straits Times reports.
The two gambling venues received a collective S$746,700 in fines during the April 2018-March 2019 financial year. The amount was the highest recorded in the past five years and represented a significant jump from the 2017-18 financial year when Resorts World Sentosa and Marina Bay Sands were slapped with a total of S$60,000 in penalties.
Fines imposed on Resorts World Sentosa, the hotel and casino resort operated by Malaysian hospitality group Genting, accounted for the bulk of the amount that was collected from violations of Singapore casino regulations.
As revealed by the Singaporean Casino Regulatory Authority, Resorts World Sentosa was fined three times over the previous financial year and had to pay a total of S$730,000. The Singapore’s casino regulator once hammered a S$400,000 fine on the property’s parent company over its failure to implement certain internal controls.
Another penalty of S$250,000 was imposed for “failure to comply with a direction that relates to the conduct, supervision or control of casino operations.” The final fine totaled S$80,000 and was slapped on the casino resort for failure to prevent five underage individuals from gaining access to the property’s gaming floor. The legal gambling age in Singapore is 21.
As for Marina Bay Sands, it was fined twice during the 2018-19 financial year. The property had to pay a S$10,000 penalty for failure to prevent one underage individual from gaining access to its gaming floor and another S$5,000 levy for failing to prevent one permanent resident from entering its gaming floor without paying the required entry fee.
Expansion at Singapore’s Two Casino Resorts
Earlier this year, the government of Singapore agreed to extend the casino exclusivity of the city-state’s two gaming resorts through 2030 in exchange for pledges by their owners to expand the properties and add more attractions that would boost international visits.
Both Resorts World Sentosa and Marina Bay Sands unveiled S$4.5 billion expansion plans that would create two of the world’s largest integrated resorts. The owner of Marina Bay Sands plans to add a fourth hotel tower located near the property’s three existing ones. The new building will feature 1,000 hotel suites and its own sleek rooftop that will very much resemble the main resort’s iconic shiplike roof.
At Resorts World Sentosa, Genting will expand the property’s gross floor area by about 50% and will add 164,000 square meters of new attractions, entertainment, and lifestyle offerings, including a Minion Park and a “larger-than-life” Super Nintendo World immersive theme park, among others.
Singapore’s two casino resorts opened doors in 2010. The two properties quickly became extremely popular with Asian high rollers and turned the city-state into one of the world’s largest casino markets, behind only Macau and Las Vegas.
Source: RWS and MBS fined more than $700,000 by casino watchdog in the last year,
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The post Singapore Regulator Slaps Record Fines on City’s Two Casinos appeared first on Casino News Daily.

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