THE M3: RWS PROBE; PARCEL 3; TAIWAN

The Macau Metro Monitor, July 12, 2012

 

 

RWS IN LEVY PROBE? Today Online

Singapore's Casino Regulatory Authority (CRA) probe against Resorts World Sentosa (RWS) is underway over alleged reimbursements of casino entry levies.  The investigation, which started almost a year ago, is understood to allegedly involve hundreds of incidences of these illegal reimbursements.  The probe is believed to have prompted RWS to take the decision to suspend several senior executives, including one Senior Vice-President. 

 

Breaches of the Act can result in the following disciplinary actions: Cancel or suspend the casino license, vary the terms of the license, issue a letter of censure, or impose a financial penalty up to S$1 million.  Multiple reimbursements can constitute just one breach.  

 

In May 2011, RWS was fined S$200,000 for illegal reimbursements of casino entry levies.  The penalty was for an incident in July 2010 when a senior management staff member paid for the entry levies of more than 10 reporters and photographers covering the launch of the casino's Ladies Club.

 

SANDS CHINA IN TALKS TO DELAY PARCEL 3 MACAU RESORT DEADLINE Bloomberg

According to Melina Leong, a spokeswoman for Sands China, the company is in talks to get an extension of the April 2013 time limit the government set to develop Parcel 3.  The company said in a May SEC filing that it planned to seek the extension.  If the extension is not approved, the company could have to take a charge for some or all of its $96.7 million in capitalized construction costs and land premiums as of March 31, 2012.

 

TRANSPORT MINISTRY TO REGULATE CASINO GAMING IN TAIWAN Macau Business

The Taiwanese government awarded regulatory powers on casino gambling to the Ministry of Transportation and Communications.  


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