The complicated VIP regulations in Singapore have the two casinos operating there keeping their compliance departments busy. And not only do they look at their own operations, but they also keep an eye on the competitor.
Remarks by Las Vegas Sands Chairman and CEO Sheldon Adelson have pointed fingers at the competitor to LV Sands’ Marina Bay Sands resort, Resorts World Sentosa, owned by Malaysia’s Genting bhd. According the Adelson, RWS has been employing illegal VIP operators to get an edge in that important segment of the business.
As a result, Singapore’s Casino Regulatory Authority (CRA) has initiated an investigation.
“Adelson, on his part, has informed CRA of his concerns over alleged illegal activities at the casinos. CRA has asked Adelson and MBS to provide further information,” CRA said.
In Singapore, VIP operators are required to undergo an extensive background check and then be granted a license. To date, no licenses have been issued, although there are reportedly several operators who are in the process.
The CRA said it has received junket applications endorsed by Resorts World Sentosa and is currently processing them.
While both casinos are doing well in Singapore, RWS has gotten the edge in VIP business. Some observers feel that the proximity of RWS to Genting Highlands in Malaysia, Genting’s huge casino complex, gives the company an edge in that high-end market.