SINGAPORE — Resorts World Sentosa (RWS) has received a renewal of its casino licence for a period of just two years, effectively one year less than the usual term. This decision comes on the heels of the Gambling Regulatory Authority’s (GRA) evaluation, which deemed the integrated resort’s tourism performance as ‘unsatisfactory’. The new licence term will commence on 6 February 2025.
Evaluations and Recommendations
According to the GRA, the agency assessed RWS’ capability to develop, maintain, and promote its integrated resort in accordance with current market demand and industry standards. The independent evaluation panel, appointed by the Minister for Trade and Industry, scrutinised RWS’ performance from 1 January 2021 to 31 December 2023 and found multiple areas needing ‘rectification and substantial improvement’.
- The next evaluation of RWS is slated for 2026.
- The panel’s assessment also factored in feedback from the Ministry of Trade and Industry (MTI), Singapore Tourism Board (STB), and Sentosa Development Corporation (SDC).
RWS’ Response
In response to the renewal outcome, Genting Singapore, which operates RWS, acknowledged the immense challenges the tourism industry faced during the evaluation period, primarily due to the Covid-19 pandemic. Genting’s company secretary, Liew Lan Hing, stated that RWS is committed to rejuvenating its offerings to enhance its appeal and visitor experience.
Future Developments
RWS is also working on a magnificent new waterfront lifestyle complex, anticipated to cost S$6.8 billion. This ambitious project, set to open by 2030, will introduce an 88-metre tall light sculpture, two luxury hotels, and a mountain trail, ultimately expanding the existing property by about 50% and adding over 164,000 square metres of new gross floor area.
The GRA has recently been active in ensuring compliance within the industry; in December 2023, it fined RWS S$2.25 million for failing to perform necessary due diligence checks when accepting cash deposits exceeding S$5,000 from third parties. This fine marked the largest penalty imposed on a casino operator to date.