The two integrated resorts in Singapore may soon be slapped with penalties of up to 10 per cent of their annual revenues should they be censured by the Casino Regulatory Authority, reported local media on Sunday.
According to The Straits Times, this hefty fine could now reach hundreds of millions, instead of the current maximum of S$1 million.
Based on their 2011 revenue, that means that Marina Bay Sands (MBS) could face a maximum of S$236 million while Resorts World Sentosa (RWS), S$269 million, if the new rules are imposed.
This is one of the government’s several proposed amendments to the Casino Control Act (CCA), which is up for public feedback for one month from 9 July.
The public consultation paper released on Friday explains that the amendments ensure that “the casino regulatory regime continues to keep pace with developments in the industry and international best practices”.
It adds that the IRs have brought about “significant” economic benefits and that “law and order and social downsides associated with the casinos are under control”.
This “timely” review comes after two years of “practical experience”, since the RWS and MBS opened in February and April 2010 respectively.
Among the new laws that could be put in place by the end of the year is the introduction of a “visit limit” on financially vulnerable local patrons who frequent the casinos, reported Channel NewsAsia.
The National Council on Problem Gambling may soon also be empowered to issue casino exclusion orders with regard to Family Exclusion Orders, when the family member with the gambling problem cannot be located, is uncooperative, or poses a potential danger to his or her family.
Other amendments dealing with casino crimes, casino operations and the sustainability of the IRs as tourism attractions were also raised.
Both RWS and MBS have "done a good job" so far, Minister in the Prime Minister's Office S. Iswaran, who is also Second Minister for Home Affairs and Second Minister for Trade and Industry was quoted by TODAY as saying.
“Because this is a long franchise, we want to ensure that they continue to upkeep and maintain these attractions at world-class levels on an ongoing basis.”
The public can send their comments and feedback on the proposed amendments to the CCA to mha_cca_consultation@mha.gov.sg by 6 August.
COMMENT More than 2 weeks since the announcement of new Internet regulations, the public is still none the wiser. Even foreigners and foreign organisations which might be affected by the new rules are still trying to understand the licensing regime. … Continue reading →