Singapore junket operators to be known as International Marketing Agents
Singapore’s Casino Regulatory Authority (“CRA”) gave early indications that they would take an iron-fisted approach to regulation of junket operators. With the awarding of their first junket licenses last month, it’s pretty clear they aren’t softening their stance.
It’s taken almost two years since Resorts World Sentosa and Marina Bay Sands first opened their doors and over a year since RWS provided a list of endorsed applicants for CRA consideration for the licenses to be handed out. There were 14 applications. 12 were rejected and only two licenses were awarded.
The two successful applicants are operations run by Huang Yu Kiang and Low Chong Aun. Both are from Malaysia and considered leading operators in the South East Asian market and significantly neither have players from mainland China which wouldn’t be a coincidence. Keeping a distance from Macau’s junkets was always seen as important to maintaining tight control over things in Singapore and no doubt much of the year spent reviewing applications involved investigating any ties with Macau and players from the Chinese mainland.
Huang Yu Kiang and Low Chong Aun will now be known as International Marketing Agents (“IMAs”) in Singapore and have free reign to drive their VIP players to RWS. But their license to do so will only last 12 months and does not let them market services to Singaporean high rollers.
Marina Bay Sands hasn’t yet endorsed any operators so it will be a while before they have any IMAs marketing to high rollers on their behalf….legally anyway. Sheldon Adelson has already said that illegal junkets are operating in Singapore.