GGRAsia – RWS in Singapore fined over internal controls: CRA report

RWS in Singapore fined over internal controls: CRA report

Oct 12, 2021 Newsdesk Latest News, Singapore, Top of the deck

Singapore’s Casino Regulatory Authority (CRA) recorded one casino operator fine in the 12 months to March 31, according to its annual report for 2020-21.

The SGD75,000 (US$55,448) penalty was on Resorts World at Sentosa Pte Ltd, operating entity of the Resorts World Sentosa (RWS) casino resort (pictured in a file photo). The company is a subsidiary of Genting Singapore Ltd, and is one half of Singapore’s casino duopoly.

The fine was for “failure to implement a system of internal controls approved by the Authority” as required by the Casino Control (Internal Controls) Regulations 2013. The nature of the failure was not specified in the annual report.

For the 2020-21 financial period, the CRA had SGD48 million in income from licensing fees versus SGD47.9 million in the prior-year period.

In April 2020, Singapore’s Ministry of Home Affairs announced it would set up a new, centralised body called the Gambling Regulatory Authority, reconstituted from the current CRA, to oversee the entire gambling industry in Singapore. The body was to “be established by 2021″. The ministry said at the time it would also revise relevant laws and amend the definition of gambling so that it can cover emerging products.

Tan Tee How, CRA chairman, said in his message in the 2020-21 annual report: “With most employees working from home during the pandemic, it has not been easy for CRA officers to prepare for the Gambling Regulatory Authority, as much of the developmental work requires intensive face-to-face discussions.”

But he added CRA staff had “persevered and achieved much despite the new working conditions”.

Mr Tan also noted “CRA officers worked relentlessly” within the period covered by the report, “to ensure that CRA’s supervision of the casino industry remains thorough and robust”.

Teo Chun Ching, chief executive of the CRA, said in his remarks in the report there had been “significant progress” in the work leading up to CRA’s reconstitution to GRA.

He added: “Reviews are ongoing to rationalise and consolidate gambling legislations and regulatory frameworks for both existing and emerging gambling products, to ensure that the entire gambling landscape will be regulated in a risk-calibrated and holistic manner.”

The CRA chairman Mr Tan noted in his comments that viewed as a global trend, Covid-19 had “fuelled the popularity of remote gambling as gamblers turned to gambling on their mobile devices during periods of lockdowns or movement control restrictions”.