Singapore gaming regulators have renewed the casino license for Las Vegas Sands, allowing the company to operate the Marina Bay Sands for three more years.
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 $2.94bn in gaming revenues in 2012, roughly 26 per cent of Las Vegas Sands’ overall annual revenues.
Combined with results from the Genting Group-owned Resorts World Sentosa, Singapore’s two casinos produced $5.85bn in gaming revenues, making it the world’s third-largest gaming market behind Macau, $38bn, and Las Vegas, $6.2bn.
The renewal followed an assessment that Marina Bay Sands conformed with all rules and regulations, according to Singapore’s Casino Regulatory Authority.
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.
