Singapore’s two casinos have been held up as one of the main reasons for tourism growth. When they were first opened up, the casinos were permitted as the state hoped for an increase in tourism. 2011 seeing a record number testifies to this. The city/state’s tourism authority reported arrivals up 13% to 13.2million with Resorts World Sentosa and Marina Bay Sands named as the two most important factors. In addition, the tourism authority noted revenue was up 17% to $22.2billion (US$17.8bn).
Wynn Resorts CEO Steve Wynn has sent a memo to employees telling them their donation to the University of Macau was above board. The internal memo, obtained by Reuters, told colleagues the US$135m complied with all “applicable laws and regulations.”
The Securities and Exchange Commission inquiry into the donation was announced earlier this week and comes as the firm is embroiled in a court case with their largest shareholder Kazuo Okada. Wynn doesn’t gloss over Okada in the memo and his view that it has more to do with a new Asian project than anything else.
“In breaking ground recently on his Philippine project, Mr. Okada not only defied the wishes of the board, he became a significant new competitor,” Wynn said in the memo.
The next turn in their tumultuous friendship comes later this month when the court case involving disclosure of certain information to Mr Okada comes before a judge.
A Singapore man has been detained after attempting to use a false ID to enter Resorts World Sentosa. The 41-year-old attempted to enter one of Singapore’s two casino business locations even though he was under an exclusion order (EO). Best of all…the ID belonged to his 40-year-old wife. The offence took place on September 4, 2011 and comes to court later today when his fate will be revealed. Under the National Registration Act, Chapter 201, the man could be liable to a fine not exceeding $10,000 and a ten-year stretch at Singapore’s pleasure. There’s a charge for attempting to enter the casino without levy payment carrying a further fine of up to $1,000. They are also investigating his wife to see if she abetted the offender in providing the ID.
Even after the court case one question remains. In relation to the ID, who comes out of this worse, the husband or wife?
