By Chun Han Wong
SINGAPORE--The Singapore government proposed Friday stricter
rules and enforcement on casino operations and local gamblers, part
of efforts to improve its regulatory regime and contain
gaming-related social ills.
Under the proposals, authorities may raise the maximum fine on
casino operators for disciplinary breaches to 10% of gross gaming
revenue, instead of the current cap of 1 million Singapore dollars
(US$788,500), according to a document detailing the proposals seen
Friday by Dow Jones Newswires.
Other proposed revisions to Singapore's Casino Control Act
include higher penalties for illegal junket activity at the
city-state's two casinos -- Las Vegas Sands Corp.'s (LVS) Marina
Bay Sands and Genting Singapore PLC's (G13.SG) Resorts World
Sentosa -- and stricter requirements on premium players seeking to
borrow money for gambling, the document showed.
Junket operators are middlemen who bring high-spending gamblers
to the casinos, issue them credit and collect on debts in exchange
for commissions.
Authorities may also impose limits on the number of times
"financially vulnerable" locals can visit the casinos, according to
the document.
In a statement Friday, the government said the proposed
legislative changes would "ensure that the casino regulatory regime
continues to keep pace with developments in the industry and
international best practices."
Authorities will seek public feedback on the proposals Monday in
a consultation process scheduled to end Aug. 6, according to the
statement. The proposed amendments will be tabled in parliament at
the end of the year.
Other proposals include tougher definitions of casino-related
crimes, and streamlining administrative and taxation processes
regarding the casinos, the document showed.
Authorities, however, don't plan to adjust casino-entry levies
for now. The government currently taxes locals who enter the
casinos S$100 a day and S$2,000 a year.
The proposals come just weeks after the government said it would
bar about 15,000 more citizens and permanent residents from
entering its casinos, widening an existing entry ban on 28,000
people who are bankrupt or are dependent on government aid.
Write to Chun Han Wong at chunhan.wong@dowjones.com
