Marina Bay Sands gets its licence to deal just in time
By ARTHUR SIM
(SINGAPORE) The Marina Bay Sands (MBS) casino has been awarded its licence - just one day before it was scheduled to open. This means that the casino, along with 963 hotel rooms, the Sands Expo and Convention Centre, the event plaza and portions of the shopping mall, will open today as planned.
In a statement released around noon yesterday, Marina Bay Sands said it is 'pleased to announce that it has been awarded the casino licence by the Casino Regulatory Authority (CRA) of Singapore'.
CRA also made an announcement yesterday morning through its website that it had issued a casino licence to Marina Bay Sands on April 26, 2010. 'The casino operator must ensure that it remains suitable to manage and operate a casino in accordance with Section 45 of the Casino Control Act,' added CRA.
Section 45 refers to the suitability of applicants of the casino licence. It sets out the criteria for which suitability is assessed, including having a 'sound and stable financial background' and not having a 'business association with any person, body or association who or which, in the opinion of the Authority, is not of good repute'.
The news of the award of the casino licence comes after some market speculation that MBS's casino opening would be delayed.
This was partly because of the fact that CRA had awarded Resorts World Sentosa its casino licence about a week before the opening date of its casino in February.
There had also been reports earlier this month about alleged links between Las Vegas Sands (LVS) and a junket promoter with triad links in Macau and that the Nevada Gaming Commission (NGC) - which regulates a substantial chunk of LVS's business operations - was carrying out its own investigations.
Earlier this year, the New Jersey Casino Control Commission (NJCCC) declared that it found MGM Mirage's partnership with Pansy Ho, daughter of Stanley Ho 'unsuitable' because of Mr Ho's alleged links with Macau triads.
Dean Macomber, a gaming consultant and president of Macomber International, said that there is some market speculation that the NJCCC resolution could put pressure on NGC to act. But he also added that while all agencies have the same goal of effectively regulating the gaming industry, 'each venue in the US seems to approach this task a little bit differently'.
This seems to be true in Asia too.
Sean Monaghan, managing director at AG Leisure Partners, says: 'The CRA has been acting to keep certain elements away from Singapore. Every jurisdiction operates differently.'
With construction cranes still visible at the MBS site, it is perhaps not too surprising that there has been doubt about the Marina Bay integrated resort (IR) opening on time.
Derek da Cunha, author of Singapore Places Its Bets, adds: 'The fact that the casino licence was given only a day before the scheduled opening indicates that the company had been working round-the- clock to meet its own imposed deadline while allaying any concerns the authorities may have had.
'I also think there may have been competing pressures at work here, not least of which is the fact that the initial MICE event - the Inter-Pacific Bar Association conference - is to be held from May 2-5,' he added.
The Grand Opening of MBS is actually scheduled for June 23, when the rest of the hotel rooms and suites, the Sands SkyPark and additional shops are expected to open.
The museum, theatres and the remainder of the shops will open towards the end of the year.
Copyright © 2010 Singapore Press Holdings Ltd. All rights reserved.
All set: Visitors on a platform of The Helix bridge, which leads to the Marina Bay Sands (right). The casino and a few other parts of the IR start operations today.
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