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Best of Howard Stutz

Gaming Guru

Howard Stutz
 

Sands' Singapore casino fined $286,800

24 August 2012

LAS VEGAS -- In 2011, Las Vegas Sands Corp. collected almost $3 billion in gaming revenues from the Marina Bay Sands - Singapore, one of two casinos licensed in the city-state.

On Wednesday, the property was fined $286,800 for several failures in enforcing the country's casino-entry restrictions.

That penalty won't exactly break the company's balance sheet.

A spokesman for the Marina Bay Sands told Singapore media Thursday the casino "remains committed to comply with the rules and regulations" of the Casino Regulatory Authority.

When gaming was legalized in Singapore, the government implemented strict rules to deter local residents from entering casinos. Casino operators must charge Singapore citizens and permanent residents $100 a day or $2,000 a year just to come in the door. Operators also must ensure customers are at least 21.

Authorities didn't detail the circumstances leading to the fine, but said the violations took place between May and October last year.

Resorts World Sentosa, operated by Genting of Malaysia, was hit with $140,000 in fines for similar breaches.

Analysts have said Singapore residents have been flocking to the casinos despite the entry fees.

Marina Bay Sands and Resorts World combined to produce $5.42 billion in gaming revenues in 2011. The 55 Las Vegas Strip-area casinos' gaming revenue totaled $6.068 billion in that time.

Singapore may surpass the Strip this year to become the world's second-largest gaming revenue producer behind Macau, which reported $33.5 billion in gaming revenues.