What began in August with the seizure of SGD1 billion (US$740.4 million) has now ballooned into a much larger operation. Authorities have confiscated over SGD2.4 billion (US$1.75 billion) in cash and assets, as the web of illicit activity stretches further.…
Singapore’s financial reputation is under serious scrutiny as a sprawling money-laundering investigation tied to illegal gambling surpasses the $2 billion mark. What began in August with the seizure of SGD1 billion (US$740 million) in assets has now ballooned to SGD2.8…
A longtime bribery scheme linked to the Singapore Zoo has landed a man in jail after years of profiting off corrupt practices. According to The Straits Times, the scheme dates back to 2005 and was originally set in motion by…
A gambler and a casino dealer were each sentenced to 28 weeks in prison on Monday for colluding to rig roulette outcomes at Marina Bay Sands, according to CAN. Daniel Koh Tze Zhou admitted to violating Singapore’s Casino Control Act…
Genting Singapore may position itself as a strong candidate for a casino license in Thailand, should the country legalize integrated resorts (IRs). According to a recent note from Maybank analyst Samuel Yin Shao Yang, the operator of Resorts World Sentosa…
The Malaysian government has strongly denied a recent Bloomberg report claiming the country is considering approving a casino development near its southern border with Singapore. On Wednesday, Bloomberg reported that Malaysian Prime Minister Anwar Ibrahim recently met with two of…
Singapore’s casino duopoly — Marina Bay Sands (MBS) and Resorts World Sentosa (RWS) — may soon face serious competition just across the border, as rumors swirl about a potential integrated resort in southern Malaysia’s Forest City. According to a Bloomberg…
The company is expected to unveil further details later this year about a potential $7.5 billion expansion project. While a fourth hotel tower is already in the works, it will not include a new casino. However, reports suggest Sands may…
Singapore will soon enforce stricter reporting requirements on casino cash transactions, the Gambling Regulatory Authority (GRA) announced Monday, as part of broader efforts to combat money laundering and terrorism financing. Under the new rules, due diligence checks will be required…
A croupier at Resorts World Sentosa has been sentenced to one year and three weeks in prison after pleading guilty to stealing tens of thousands of dollars using sleight of hand techniques at the gaming tables. Oumnakil Thanakorn, a 35-year-old…
Wang Sicong, a well-known Chinese billionaire and esports entrepreneur, was recently seen gambling at Marina Bay Sands casino in Singapore. The 36-year-old is the only son of Wang Jianlin, founder and chairman of Dalian Wanda Group—China’s largest real estate developer.…
Moody’s Investors Service has reaffirmed Genting Singapore’s “A3” credit rating with a “stable” outlook, citing strong momentum at Resorts World Sentosa (RWS) as a key driver of the company’s earnings and free cash flow. Genting and Marina Bay Sands —…