RWS faced 3 enforcement actions for regulatory breaches in FY21
Singapore’s Casino Regulatory Authority has reported that in the 2021-22 reporting period, Resorts World Sentosa was fined SGD275,000 (US$191,000).
Singapore.- According to Singapore’s Casino Regulatory Authority (CRA), only Genting Singapore’s Resorts World Sentosa (RWS) faced enforcement action for regulatory violations during the 2021-22 reporting period. The casino operator was hit with three fines totalling SGD275,000 (US$191,000).
RWS was fined SGD150,000 and SGD50,000 for breaches of the country’s Casino Control (Prevention of Money Laundering and Terrorism Financing) Regulations 2009. In both cases, the fines were issued for failure to perform customer due diligence measures. It was also fined SGD75,000 for a breach of the Casino Control (Internal Controls) Regulations 2013, for failure to implement an approved system of internal controls.
Teo Chun Ching, chief executive of the new Gambling Regulatory Authority of Singapore (GRA), has recently confirmed that the GRA has absorbed work previously carried out by the former Casino Regulatory Authority (CRA) and stated the new body was going to continue the CRA’s work to ensure that “the harms of casino gambling are kept at bay.”
The new regulator, which will oversee the entire gambling landscape in Singapore, was launched in August. It has the authority to issue operator licences for gambling services such as betting and lottery businesses, gaming machine rooms and gambling in private establishments, provided the licensees are considered “fit and proper”.
