The ultimate annual report of Singapore’s Casino Regulatory Authority (CRA) shows that in the 2021-22 reporting period, only the operator of Resorts World Sentosa (RWS) – half of the city-state’s casino duopoly – faced enforcement action for regulatory breaches.
Resorts World at Sentosa Pte Ltd, the operating entity of the resort (pictured), was fined a total of SGD275,000 (about US$191,000). The operating entity is controlled by Genting Singapore Ltd.
Two of the fines – set at SGD50,000 and SGD150,000 respectively – were for breaches of the country’s Casino Control (Prevention of Money Laundering and Terrorism Financing) Regulations 2009, that cover matters including anti-money laundering (AML) procedures, and were in each case for “failure to perform customer due diligence measures”.
A SGD75,000 penalty was imposed for a breach of the Casino Control (Internal Controls) Regulations 2013, namely for “failure to implement a system of internal controls approved by the Authority”.
The information is contained in the CRA’s annual report issued to cover its activities prior to the August rejig that brought in its multi-sector successor, the Gambling Regulatory Authority.
The 2021-22 CRA report indicates no enforcement action was deemed necessary during the report period against Resorts World Sentosa’s market rival, Marina Bay Sands, run by a unit of Las Vegas Sands Corp.
