Resorts World Sentosa (RWS) has had its casino license renewed for a shorter two-year term instead of the usual three, with Singapore’s Gambling Regulatory Authority (GRA) citing “unsatisfactory” performance in tourism promotion and integrated resort (IR) development. Effective February 6, 2025, the decision follows an independent evaluation covering January 2021 to December 2023, conducted by a panel appointed by country’s the Minister for Trade and Industry (MTI).
The assessment revealed areas requiring significant improvement. Before the decision, the GRA consulted the MTI, Singapore Tourism Board (STB), and Sentosa Development Corporation (SDC). While MTI declined to specify RWS’s shortcomings, it confirmed the next review is scheduled for 2026.
Last month, the GRA reported that 3 percent of Singapore’s adult population, or 99,000 citizens, visited the two major casinos, Resorts World Sentosa and Marina Bay Sands, in 2023. The latest figure highlights consistent casino attendance, mirroring the trends seen during the COVID-19 pandemic and pre-pandemic years. In contrast, 3.2 percent of the adult population visited in 2022, 3 percent in 2021, 2.5 percent in 2020, and 3.4 percent in 2019, indicating a consistent level of interest in the local gaming industry.
Regulatory issues and penalties
RWS’s challenges include a SGD2.25 million (€1.6 million) fine imposed by the GRA in December 2023 for lapses in due diligence on cash deposits exceeding SGD5,000 (€3,526). The penalty, the largest ever for a Singapore casino, highlighted deficiencies in compliance measures introduced in 2020. While RWS swiftly corrected the issues, these regulatory lapses have raised concerns about its operational standards.
The GRA stressed its commitment to maintaining strict regulatory oversight, emphasising collaboration with relevant authorities to ensure the IR meets market expectations and industry standards.
RWS redevelopment plan
Despite the setbacks, RWS is proceeding with its SGD6.8 billion (€4.8 billion) RWS 2.0 project, targeting completion by 2030. The redevelopment will add two luxury hotels with 700 new rooms, a waterfront promenade, and a mountain trail. Universal Studios Singapore will introduce a Minion Land zone, while the S.E.A. Aquarium will be transformed into the larger Singapore Oceanarium, tripling its current size.
Genting Singapore, RWS’s operator, attributed some of the difficulties to the COVID-19 pandemic but reaffirmed its commitment to enhancing the IR’s appeal. It said that RWS continues to accelerate its transformation to deepen its destination appeal and enrich visitor experiences.
Competitive and regulatory pressures
RWS faces stiff competition from Marina Bay Sands (MBS), the city-state’s other integrated resort. Both IRs are investing SGD9 billion (€6.3 billion) combined to secure their duopoly until 2031.
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