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Genting unit gets slap on the wrist for breaching S’pore casino rules

Resorts World Sentosa was also fined S$200,000 in fiscal year 2021/22 for failure to perform proper customer due diligence checks. (Facebook pic)

PETALING JAYA: Genting Bhd’s unit, Resorts World Sentosa (RWS), has once again been fined by Singapore’s gaming regulator for violating casino control regulations after failing to perform proper due diligence checks on customers.

Between April 2022 and March, the integrated resort was fined a total of S$95,000 (RM326,916) for two breaches of customer due diligence measures, the Gambling Regulatory Authority (GRA) said in its annual report 2022/23.

The two fines – set at S$20,000 and S$75,000 respectively – were for breaches of the island state’s casino control regulations that also cover anti-money laundering procedures and terrorism financing.

In comparison to the billions of dollars in revenue raked in annually by the casino operator, the fines are seen as just a slap on the wrist for Genting’s indirect subsidiary.

This is not the first the RWS has been fined for breaching casino control regulations. In the previous fiscal year, it was fined S$200,000 (RM688,125), also for failure to perform customer due diligence measures, by the GRA.

RWS is a wholly owned subsidiary of Genting Singapore Ltd, which is 52.6%-owned by Genting Bhd.

Singapore is home to a casino resort duopoly – Resorts World Sentosa and Marina Bay Sands, run by a unit of Las Vegas Sands Corp.