Singapore's Gambling Regulatory Authority Unhappy with Genting Resorts
The Gambling Regulatory Authority (GRA) of Singapore has renewed the casino license of Resorts World Sentosa (RWS) for another two years, starting on February 6, 2025. However, while the renewal secures continued operations for the integrated resort (IR), the GRA has expressed dissatisfaction with RWS's performance during a recent evaluation.
Resorts World Sentosa in Singapore as seen from the sky. (Source: The Edge Malaysia)
LISTEN TO THIS ARTICLE:From January 1, 2021, to December 31, 2023, the GRA evaluated RWS, and operator Genting Singapore, under Section 45 of the Casino Control Act 2006. The focus was its ability to develop, maintain, and promote the IR as a premier tourist destination that aligns with market demand and industry standards.
Related: Resorts World Sentosa Fined $17M for Regulatory ViolationsThe review process included an assessment by the Evaluation Panel, appointed by the Minister for Trade and Industry, as well as input from the Ministry of Trade and Industry, the Singapore Tourism Board, and the Sentosa Development Corporation. These evaluations culminated in the determination that RWS's tourism performance was unsatisfactory, warranting a reduced license term of two years instead of the typical three years provided under the Casino Control Act.
The GRA cited Regulation 5 of the Casino Control (Casino License and Fees) Regulations 2009 to justify the shortened license period. It stated that the decision followed a detailed review of RWS's' recent performance and consultation with relevant agencies. The regulator emphasized its commitment to collaborating with the Ministry of Trade and Industry, the Singapore Tourism Board, and Sentosa Development Corporation to ensure that RWS improves and fulfills its obligations to promote itself as a compelling tourist destination.
More Business News
Ongoing Upgrades to Boost RWS
Genting Singapore acknowledged the challenges faced during the evaluation period, noting the significant disruptions caused by the global pandemic. The company reiterated its dedication to enhancing its offerings through its ongoing RWS 2.0 expansion plans.
Genting described its efforts as aimed at rejuvenating the IR and deepening its appeal as a lifestyle and tourism destination. The expansion includes the addition of new attractions and upgraded facilities, reflecting the operator's commitment to elevating visitor experiences.
Key developments under the RWS 2.0 project include a $5 billion investment to enhance the resort's infrastructure. The project, which broke ground on November 15, 2024, will add approximately 700 new hotel rooms and create what Genting describes as a "monumental gateway" to Resorts World Sentosa and the Greater Southern Waterfront precinct.
The expansion also includes updates to Universal Studios Singapore, introducing a new immersive zone called Illumination's Minion Land, and a significant transformation of the S.E.A. Aquarium, which will triple in size and be rebranded as the Singapore Oceanarium. These updates, along with changes to the resort's outdoor Forum area, are slated for a soft opening in early 2025.
RELATED TOPICS: Business
Latest News
Responsible Gambling
Parlays, Pressure, and Addiction - The Risks of Modern Sports Betting
Dec 20, 2024Most Read
Must Read
Interviews
When Helping Others Is a Life-Long Mission - An Interview with Gordon Moody CEO, Monica Shafaq
Dec 17, 2024
Interviews
Review this New Post
Leave a Comment
User Comments
Comments for Singapore's Gambling Regulatory Authority Unhappy with Genting Resorts