Financial penalties for two casino licenses by Singapore’s gambling regulator jumped more than 10 times in the most recent fiscal year, and one of the casinos was much more guilty than any other casino.
This week, Singapore’s Casino Regulatory Authority (CRA) issued its 2018-19 annual report detailing oversight of two casinos, Las Vegas Sands Marina Bay Sands and Genting Singapore Resorts World Sentosa, for 12 months until March 31.
The CRA was fined SG $745k (US$540,600) during that period, giving a significant increase in the SG$60k penalty total for the previous fiscal year. The increase was entirely due to the major penalties imposed on the integrated resort of Genting.
Resorts World Sentosa was fined three times for a total SG $730k, including a SG $400k fine for failing to implement a CRA-approved internal control system and a SG $250k fine for failing to comply with direction relating to behavior, supervision or supervision. Control of the casino operation. Genting also paid SG $80k to allow five people under the age of 21 to access the casino floor.
Marina Bay Sands was also fined for allowing minors to access, but only one person was fined SG$10k. MBS was also fined SG $5k for allowing Singapore permanent residents to access the casino floor without evidence that they had paid an SG $100 entry fee imposed on local gamblers.
CRA CEO Teo Chun Ching said the two casino operators “have stepped up measures to improve the work process and strengthen compliance with regulatory requirements.” Both casinos renewed their licenses for a three-year term earlier this year, both of which are planning major expansions of operations.
Singapore Pool Sees Online Betting Spike
Across the city, the state-owned Singapore Pool Lottery and Sports Betting Monopoly is making the most of a new digital betting channel that debuted in 2016. The Singapore Pool and state-owned Singapore Turf Club racing business said last year that online access did not lead to a “surge” in overall betting volume, but it appears that local punters are more frequently choosing digital options.
In August, Interior Minister Josephine Theo announced that Singapore Pools is driving 60% of its betting handles through websites and mobile apps, twice as many as three years ago, and Teo expects this trend to continue.
The digital gain is at least due to the fact that Singapore Pools took over the turf club’s operations last year to achieve synergies and improve cost efficiency.