Singapore casinos: GRA renews Resorts World Sentosa licence
The casino licence has been renewed for only two years due to “unsatisfactory” tourism performance.
Singapore.- The Gambling Regulatory Authority (GRA) has renewed the casino licence of Resorts World Sentosa (RWS) for two years from February 6, 2025. The renewal would normally be for three years, but the Evaluation Panel considered that RWS’s tourism performance for January 1, 2021, to December 31, 2023, was “unsatisfactory, with a number of areas that require rectification and substantial improvement.”
Under Regulation 5 of the Casino Control (Casino Licence and Fees) Regulations 2009, the GRA has the authority to define a licence duration that is less than three years. A new evaluation will be carried out in 2026.
The GRA said it will continue to work with the Ministry of Trade & Industry, the Singapore Tourism Board and the casino operator, to “ensure that RWS meets the requirement to develop, maintain and promote its IR as a compelling tourist destination.”
Last December, the GRA fined RWS SG$2.25m (US$1.68m) for lapses in customer due diligence measures for certain transactions. Between December 2016 and December 2019, the IR failed to carry out the customer due diligence checks required on deposits of SG$5,000 to customer accounts. RWS says it took corrective action to improve its processes and used an independent party to review its standard operating procedures and corporate culture.
Resorts World Sentosa Waterfront development to be completed by 2030
Genting Singapore has forecast that work on the RWS waterfront promenade will be completed by 2030. The development will include the construction of a mountain trail, an 88m-tall light sculpture, new shops, restaurants and entertainment venues and two new 700-room hotels.
At a groundbreaking ceremony on Friday (November 15), Tan Hee Teck, RWS chief executive officer, said the development highlights the company’s commitment to enhancing Singapore’s standing as a global lifestyle destination.
RWS the plans in 2019 as part of its “RWS 2.0” expansion. At that time, the company indicated the expansion plan would cost SG$4.5bn (US$3.3bn). The estimate was later adjusted to SG$6.8bn to be invested over eight years. RWS’s gross floor area is projected to increase by 50 per cent, with over 164,000 square meters to be added.
See also: Genting Singapore posts revenue of US$423.5m for Q3
