KUALA LUMPUR: The casino licence of Resorts World Sentosa (RWS) in Singapore has been renewed for two years instead of the usual three, on the basis of an "unsatisfactory" tourism performance.
According to media portal CNA, the Gambling Regulatory Authority (GRA) found RWS' tourism performance during the Jan 1, 2021, to Dec 31, 2023, period required "rectification and substantial improvement" over a number of areas.
This was based on the findings of an independent evaluation panel, appointed by the Ministry for Trade and Industry, which reviewed RWS' ability to develop, maintain and promote its integrated resort as a "compelling tourist destination that meets prevailing market demand and industry standards".
The GRS said the views of the Ministry of Trade and Industry (MTI), Singapore Tourism Board (STB) and Sentosa Development Corporation (SDC) were also taken into account.
The new two-year term of the casino licence begins on Feb 6, 2025. The next evaluation, meanwhile, will be carried out in 2026, according to CNA.
The GRA said it will continue to work with MTI, STB, and SDC, to ensure that RWS meets the requirement to develop, maintain and promote its IR as a compelling tourist destination.
CNA also noted that GRA fined RWS S$2.25mil (US$1.7mil) for failing to perform due diligence checks when receiving cash of S$5,000 or more from third parties to deposit into customers' accounts.
The fine was the biggest penalty the GRA had imposed on a casino operator thus far.
