SINGAPORE: The Gambling Regulatory Authority ( GRA ) has renewed the casino licence of , Resorts World Sentosa ( RWS ) for just two years, one less than the usual three, over the integrated resort’s “unsatisfactory” tourism performance.
The innovative two-year word begins on Feb 6, 2025.
GRA reported on Monday ( Nov. 18 ) that it had evaluated RWS’s ability to develop, maintain, and promote its integrated resort as a” compelling tourist destination that meets prevailing market demand and industry standards, among other things.
In doing so, GRA said RWS ‘ tourism performance for the time of analysis from Jan 1, 2021, to Dec 31, 2023, was “unsatisfactory, with a number of areas that require repair and large development”.
An independent review board, led by the Minister for Trade and Industry, held this view.
Sentosa Development Corporation ( SDC ), the Singapore Tourism Board (STB), and the Ministry of Trade and Industry ( MTI ) were also taken into account.
CNA has contacted GRA to inquire about where RWS fell little.
The second examination, according to the evaluation panel, should take place in 2026.
” GRA will continue to work with MTI, STB, and SDC, to ensure that RWS meets the requirement to create, maintain and market its IR as a powerful holiday destination”, said GRA.
In December 2023, GRA fined RWS S$ 2.25 million ( US$ 1.7 million ) 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 game technician is required to carry out checks on lenders when they receive S$ 5, 000 or more, according to GRA, adding that the great was the biggest penalty it had ever dealt to a game controller.
RWS operates one of Singapore’s two games. The other is run by Marina Bay Sands.