Singapore

Lottery operator Singapore Pools is still waiting on approval to run its first online betting website with less than two weeks to the start of Euro 2016.

The Financial Action Task Force has included casinos as money laundering risks since 2003, allowing more than 12 years for countries to implement effective controls in accordance with its recommendations.

The Financial Action Task Force has included casinos as money laundering risks since 2003, allowing more than 12 years for countries to implement effective controls in accordance with its recommendations. However, there have been mixed results across Asia.

 



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New Fantasy Sports App SportsHero officially launched this week, allowing sports fans to make predictions on upcoming games with virtual currency wagers.

Chinese visitors can now use Alipay at over 110 locations within Singapore’s Resorts World Sentosa, the operator said in a statement on Monday.

HK-listed Shun Tak Holdings, owned by Hong Kong gaming tycoon Stanley Ho, has bought a prime land site off Singapore’s Orchard Road shopping belt, its first acquisition in Singapore.

Despite falling earnings and increasing competition, Genting Singapore remains highly profitable, and a “cash cow”, said executive chairman Lim Kok Thay.

Casino operator Genting Singapore saw 16Q1 net profit down 83 percent year on year to S$10.8 million (US$7.9 million), due to higher foreign exchange loss, higher bad debt provisions, finance and other costs.

A group of three men and three women have been arrested for cheating in the Marina Bay Sands and Resorts World Sentosa casinos in Singapore.

Genting Singapore, whose 2015 profit plunged by 70 percent to S$193.1 million ($138 million), is expected to suffer more pain ahead as it struggles to reposition the brand and recover from prior lending policies.

Tourist arrivals in 2016 are likely to exceed forecasts from the Singapore Tourism Board, said Credit Suisse in a report.

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