Singapore Extends License For Las Vegas Sands Casino

Singapore gaming regulators renewed the casino license for Las Vegas Sands Corp. on Friday, allowing the company to operate the Marina Bay Sands for three more years.

A Las Vegas Sands spokesman declined to comment on the relicensing. The company, which also operates casinos in Las Vegas, Macau and Pennsylvania, viewed the action as standard operating procedure.

Marina Bay Sands, one of two casinos in the island nation, opened in 2010 and produced $2.94 billion in gaming revenues in 2012, roughly 26 percent of Las Vegas Sands’ overall annual revenues.

Combined with results from the Genting Group-owned Resorts World Sentosa, Singapore’s two casinos produced $5.85 billion in gaming revenues, making it the world’s third-largest gaming market behind Macau, $38 billion, and Las Vegas, $6.2 billion.

The renewal followed an assessment that Marina Bay Sands conformed with all rules and regulations, according to Singapore’s Casino Regulatory Authority.

In a statement reported by Singapore media, the Casino Regulatory Authority said it imposed additional requirements on the license, but it did not elaborate.

The Marina Bay Sands has been fined on several occasions by the Singapore authorities for failure to enforce entry conditions.

Singapore citizens and permanent residents are required to pay an $80 fee to enter the casino.

Singapore regulatory authorities told Dow Jones News Service they were aware of current investigations into Las Vegas Sands by the U.S. Department of Justice and the Securities and Exchange Commission concerning the company’s operations in Macau.

“(The Authority has) kept in contact with our U.S. counterparts to closely monitor these matters,” a spokesman told Dow Jones.

Contact reporter Howard Stutz at hstutz@reviewjournal.com or 702-477-3871. Follow @howardstutz on Twitter.

Singapore Extends License For Las Vegas Sands Casino

Singapore: Lion City shows its prowess with new hotels, sights

Singapore, nicknamed the Lion City, is roaring into the future with a host of new or updated tourist facilities. 

This Southeast Asian city-state known for its shopping, restaurants and clean streets will be the site of several new hotels, an aquarium, major art gallery and other entertainment venues. Several tourist facilities have opened in the past year.

“Singapore is keeping the new development momentum going,” said Serene Tan, regional director for the Singapore Tourism Board. “The introduction of further new attractions in 2013 signifies Singapore’s objective to showcase innovative visitor experiences.”

Among the hotels scheduled to open this year:
•    Sofitel So Singapore (opening Nov 1): The hotel, housed in a historic building with a Neo-Classical facade, will have 134 guest rooms with 23 suites. The decor will feature a funky interior design theme, representing modern Singapore, as a contrast to the classic architecture.
•    The Westin Singapore (opening Nov. 1): The Westin, on Marina Bay in Singapore’s  financial district, will have sweeping city and bay views, 301 guest rooms, three restaurants, an outdoor pool, gym and spa.

Singapore: Lion City shows its prowess with new hotels, sights