Genting's Compliance

Genting is the financial backer of the Mashpee Wampanoag Tribe proposing a casino in Taunton, Massachusetts over which the Commonwealth has no control.

BUSINESS

July 13, 2012

Genting Singapore Hires Ex-Las Vegas Sands Executive

BY CHUN HAN WONG

SINGAPORE—Casino operator Genting Singapore PLC has hired an executive from rival Las Vegas Sands Corp. to join the compliance department at its Resorts World Sentosa casino resort, a person familiar with the situation said Friday.

Analysts see the move as part of the Singapore gaming company's bid to shore up its regulatory compliance.

Robin Thompson, former executive director for compliance at Las Vegas Sands' Singapore casino resort, Marina Bay Sands, has been appointed vice president of ...


http://online.wsj.com/article/SB10001424052702303919504577524461199447028.html



Report: Probe on Resorts World Sentosa casino levies
KUALA LUMPUR: The Singaporean Casino Regulatory Authority (CRA) is said to be probing Resorts World Sentosa (RWS) over alleged reimbursements of casino entry levies.

Singapore's TODAY newspaper had reported that the investigation which started almost a year ago allegedly revealed “hundreds of illegal reimbursements”.

“The probe is believed to have prompted the integrated resort to suspend several senior executives including one senior vice-president,” the report said.

Attempts to contact the CRA and RWS were futile, according to the newspaper while a CRA spokesperson said that the authority was unable to comment on the current investigations.

Under the Casino Control Act, operators are not allowed to reimburse the levies which are collected by the Singapore Totalisator Board for public, social or charitable purposes.

The newspaper reported that under the Casino Control Act, Singaporeans and permanent residents must pay S$100 (RM250) for a day-pass.

The casino operators are not allowed to reimburse the levies which are collected by the Singapore Totalisator Board for public, social or charitable purposes.

It pointed out that breaches could result in CRA taking disciplinary actions including the canceling or suspending the casino licence, varying the terms of the licence, issuing a letter of censure or imposing a financial penalty of up to S$1mil (RM2.5mil).

RWS is an indirect subsidiary of Genting Malaysia Bhd through Genting Singapore Plc. Genting's share price declined 20 sen at yesterday's close to RM9.60.

http://biz.thestar.com.my/news/story.asp?file=/2012/7/13/business/11654981&sec=business