CASINO

Singapore wants the right people; Asia has the best cheats; Genting bond programme approved

TAGs: Asia, G2E Asia, Genting, Macau, Singapore

singapore asia gentingChanges are afoot in Singapore as the country strives to retain the “right” people as workers for the Casino Regulatory Authority of Singapore (CRA). AsiaOne reports CRA chairman Richard Magnus told the annual work plan seminar that workers must be nurtured over time. They should devise schemes to prevent them losing workers to other better-paid industries.

“Without an attractive scheme of service, CRA cannot perform its important mission of keeping Singapore safe through a robust and effective regulatory regime,” he said.

Technology is taken very seriously by the country’s gaming authority and S. Iswaran, Minister in the Prime Minister’s Office and Second Minister for Home Affairs and Trade and Industry, commented: “CRA must also strive to uphold gaming integrity – in particular, by building technical forensic-investigation capabilities against counterfeits and gaming-equipment fraud.”

That will take place over the next three to five years with the view to maintaining efficiency.

Cheats working in the Asian gaming industry are among the best on the planet and are becoming more sophisticated. Security consultant Sal Piacente told the G2E Asia conference that the scams happening in Asia are extremely sophisticated and added: “What was happening here in Macau five years ago, is happening in the States now.”

AsiaOne also reported that the panel heard that U.S. technology firms are tailoring their products to the Asian market as it’s far more lucrative than anything that exists back home.

Genting has got permission to proceed with a bond programme to fund its operations. The Malaysian Securities Commission approved the 20-year RM2 billion (US$636 million) programme will be advised by CIMB Investment Bank, HSBC Bank Malaysia and Maybank Investment Bank. In the form of medium term notes they have been assigned an AAA rating by Malaysian agency RAM Rating Services.

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