Singapore’s Gaming Regulator Levies 60.5% Lesser Fines on Gaming Operators

SingaporeThe gaming regulator of Singapore has levied 60.5% lesser fine on gaming operators of the two gambling resorts of the city during the fiscal year 2016 as compared to previous year.

The income of CRA (Casino Regulatory Authority) from the licensing fee has increased by 13.9% as compared to previous reporting period. As of now, the licensing fee income of CRA is SGD 43.8 million.

The two casino resorts of Singapore paid fines to the tune of SGD 165,000 from April last year to March 2017 as compared to SGD 417,500 spent in the previous 12 months.

The abovementioned figures are shown in the financial report of CRA for the period 2016-17.

A gambling subsidy of Las Vegas Sand Corp by the name Marina Bay Sands Private Limited paid a fine of SGD 90,000 during 2016 financial year. The company alone paid SGD 15,000 for its failure to prevent a minor from gaining entry to the premises of the casino. Another SGD 75,000 was paid in fines for failing to implement a proper system for collecting entry fees.

The gambling laws of Singapore has made it mandatory for its citizens to pay entry fees for entering the gambling floor of any hotel-casino resort in the jurisdiction of the city-state.

Resorts World at Sentosa Private Limited which is a subsidiary of Genting Singapore Plc and operator of World Sentosa Casino Resort had paid fine to the tune of SGD 75,000 for some reasons including permitting seven minors into the gambling premises. According to Singapore laws, only individuals over the age of 21 years are allowed to enter the casino floor.

Singapore boasts of divine gambling laws that allow casino operators target both locals as well as foreigners while keeping problem gambling in proper check. CRA has confirmed that it would continue working with two casino operators to make sure that compliance is maintained at all times.

Japan which has recently legalised gambling is said to be studying the gaming regulations of Singapore strictly and is likely to adopt a similar stance. It is because some of the significant issues that Japanese legislators are worried about is allowing the locals to gamble and put the limit on the rise of problem gambling in their nation.

The Chairman of CRA, Lee Tzu Yang, said that they are examining the latest gaming regulations in New Jersey and Nevada. He noted that CRA is looking forward to reviewing its operating parameters to find out how best it can meet the regulatory objectives now that new gaming products and better gaming technology have emerged.

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Singapore’s Gaming Regulator Levies 60.5% Lesser Fines on Gaming Operators
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Singapore’s Gaming Regulator Levies 60.5% Lesser Fines on Gaming Operators
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The gaming regulator of Singapore has levied 60.5% lesser fine on gaming operators of the two gambling resorts of the city during the fiscal year of 2016.
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