On Monday, Singapore’s Gambling Regulatory Authority (GRA) decided to prolong the casino license of Resorts World Sentosa for an additional two years starting Feb. 6, 2025. 

Resorts World Sentosa, one of the two integrated resort casinos in the sovereign city-state, is owned and managed by Genting Singapore, a wholly-owned subsidiary of Malaysia's Genting Group. 

In 2019, Resorts World and Marina Bay Sands, Singapore's other casino, decided to invest around $3.3 billion in their resorts to uphold their gambling duopoly until 2031. The GRA consistently assesses the appropriateness of every casino operator. 

The nation’s gaming regulatory body usually grants RW and Sands a three-year extension on their gaming licenses, but decided that Sentosa’s recent failures in regulation and tourism promotion justified a briefer extension. 

Tourism Limitations 

The GRA clarified its choice to prolong Resorts World Sentosa’s casino concession for two years rather than three since the agency’s Evaluation Panel found that the property fell short in reaching tourism objectives established by the nation and Genting Singapore. The gaming agency stated that Resorts World’s tourism promotion results were “unsatisfactory” in the last licensing period.

"The Evaluation Panel has assessed that RWS’s tourism performance … was unsatisfactory, with a number of areas that require rectification and substantial improvement,” the GRA wrote about the two-year extension. “GRA will continue to work with the Singapore Ministry of Trade & Industry, Singapore Tourism Board, and Sentosa Development Corporation to ensure that RWS meets the requirement to develop, maintain, and promote its IR as a compelling tourist destination.”

Genting Singapore stated in a statement that Singapore's tourism sector encountered “extremely substantial difficulties” during the assessment period that “aligned with the worldwide pandemic.” 

In 2005, Singapore lawmakers approved the legalization of two casino resorts despite significant public dissent. The intention behind permitting two Las Vegas-style resorts was to boost foreign tourism to the island and alleviate global views of Singapore's conservatism. 

Singapore’s gamble has proven successful, with Marina Bay Sands and Resorts World Sentosa playing significant roles in attracting foreign tourists. The resorts have provided the state with tens of billions of dollars in tax income. 

Sands' property is regarded as the benchmark of the integrated resort sector and is the most sought-after asset of the Las Vegas-based company. 

Initiation of Expansion 

RW and MBS will both contribute significantly beyond the $3.3 billion they committed to in 2019. 

As Macau becomes less appealing to Sands, the company is increasingly optimistic about Singapore. Genting, which is seeking one of the sought-after licenses in downstate New York, alongside Sands, is also hopeful about Singapore. 

The expansion budget for Resorts World Sentosa has surged to about $5 billion. Construction started last Friday on a project that will lead to two new hotels featuring a total of 700 guestrooms. The blueprint does not incorporate any extra gaming. The present casino area at RWS features 2,400 slot machines and more than 550 live dealer table games. 

Targeting the premium mass market, the design of the RWS expansion incorporates what is known as “biophilic architecture,” which merges nature with structures. The project features a “remarkable new waterfront sculpture” that will “change Singapore’s skyline.”