With Genting International and Star Cruises due to sign the licence tomorrow for developing an integrated resort on Singapore’s Sentosa Island, an interesting statement has been issued by the Ministry of Home Affairs. The right to develop the sites at Sentosa Island and Marina Bay does not automatically mean that a licence to operate a casino will be granted. This will be dependent on suitability checks being carried out and approved.
It is thought that the issuing of the statement has much to do with the apparent business relationship of Genting International and Star Cruises with Stanley Ho in Macau. The Malaysian companies agreed to invest in a casino hotel project of a Ho group and for Star Cruises to sell them a 7.25% stake. This immediately caused a negative reaction from the authorities in Singapore.
The Ministry states that once a casino licence has been granted under the Casino Control Act all operators and their associates must remain suitable or the casino licence could be revoked. It has informed Genting International and Star Cruises that it will be conducting suitability checks on the relevant parties and that it has “requested that the necessary corporate and personal disclosure forms be completed and submitted by the parties concerned.” (E-02.28.07)
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