Last month, an operation by the Singapore National Police against a group of foreign nationals, allegedly involved in money laundering and other criminal activities, including online gambling and scams, resulted in the arrest and charges against 10 individuals. At the time of the announcement, an estimated S$1 billion ($732.2 million) in assets were seized.

In a recent update on Wednesday, the Singapore National Police confirmed that the estimated value of the seized assets amid the ongoing investigation soared to a staggering S$2.4 billion ($1.7 billion). Moreover, a prohibition of disposal order was filed as well, meaning that the assets, which included gold bars, properties, luxury watches, cars and bags, could not be sold.

The initial operation included simultaneous raids in areas, including River Valley, Sentosa, Bukit Timah, Orchard Road and Tanglin. Ten individuals, arrested during the operations, are facing charges related to money laundering. The alleged participants in the illegal operation included foreign nationals with passports from China, Cambodia, Cyprus as well as Turkey. The investigations into the massive money laundering operation continue.

“In response to media queries, the Police provided an update on further operations conducted in relation to the group of foreign nationals suspected to be involved in laundering the proceeds of their overseas organized crime activities, including scams and online gambling. During these operations, additional assets were seized and issued with prohibition of disposal orders. To date, the total value of assets seized or issued with prohibition of disposal orders by the Police stands at more than S$2.4 billion,“

reads a statement released by the Singapore Police Force

Bank Accounts Frozen, Cash and Expensive Items Seized

According to the recent statement released by the Singapore Police Force, some S$1,127 million ($820.1 million) was seized from bank accounts. Additionally, the operation sized approximately S$76 million ($55.6 million) in cash that included foreign banknotes.

The massive anti-money laundering operation seized 294 luxury bags, as well as 164 luxury watches and a staggering 68 gold bars. During the raids, some 546 jewelry pieces were seized, along with 204 electronic devices including mobile phones and computers. Cryptocurrency, valued at more than S$38 million ($27.8 million) was seized as well.

Some 62 cars along with 110 properties, estimated to be worth more than S$1,242 million ($878.7 million) were impacted by the prohibition of disposal orders. The law enforcement even sized ornaments, as well as bottles of wine and liquor.

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Recently, OKBet Infinity, the popular Philippine junket operator that operates VIP rooms in Newport World Resorts, Okada Manila, Hann Casino Resort, NUSTAR and City of Dreams Manila, confirmed that it has shut down all of its Philippines VIP rooms. The company unveiled the surprising announcement, confirming that it is in effect as of August 8, 2023.

However, amid media reports claiming that the closures were related to people that were arrested over alleged money laundering, OKBet released a new statement. Earlier this week, the company rejected claims that the 10 people, arrested in Singapore over money laundering and forgery, were related to the closures.

Media reports said that at least one of the people that was involved in the crimes was a “top official from OKBet.” The company disagreed with that statement and explained that the closures of its Philippines VIP rooms were “purely business driven.”

The Singapore Police Force said that it acted based on intelligence that included Suspicious Transaction Reports (STRs) which resulted in identifying a group of individuals that was believed to be involved in financial crimes such as money laundering. The law enforcement outlined that the group was suspected of laundering illegally obtained funds from criminal activities, including online gambling and scams.

Besides confirming that the decision to close its operations in the Philippines was a business one, the company reiterated that the closure isn’t tied in any way to the legal matter in Singapore. OKBet said its VIP rooms were committed to integrity and adhering to the established regulations. Additionally, the company highlighted that its clubs have been renowned for the unique luxurious experiences they offer to their visitors.

“The statement aims to clarify that the closure is not related to any legal issues in Singapore or any other specific jurisdiction. Throughout its operations, OKBet VIP Club has maintained a commitment to the highest standards of legal compliance and operational integrity,“

reads a statement released by OKBet Infinity

In its initial statement, OKBet said that its board of directors decided to cease operations. The company pointed out that its members will be allowed to withdraw their funds without interruptions.

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The case concerns one Silitonga Andri Parulian, a 27-year-old tourist from Indonesia, who was traveling to Singapore for leisure. Silitonga was visiting Singapore’s Marina Bay Sands Casino when he found the vouchers, worth some $18,000 (S$24,000) and immediately decided to withdraw the amounts and head out.

According to investigators, the vouchers were dropped accidentally from a folder by Tham Wan Nyit, a manager in charge of slot machine operations at the casino. A total of eight tickets were dropped worth S$3,000 each.

The Indonesian man, stumbling upon them, decided to put them to good use instead, and bagged the net worth of the tickets right away. His luck has run out, however, as he will now spend four months in jail over failure to return the tickets and after he pled guilty to a single charge of dishonestly misappropriating money.

Although Silitonga had no intent in procuring the tickets, the court still found him guilty. He stumbled upon the vouchers by accident, as he was about to enter the Ruby Room to gamble when he saw the tickets on the floor and collected them. Investigators though claimed that the man made no attempt to return the tickets back to security.

Silitonga did not use the money and play. He cashed out the tickets and headed directly to Changi Airport where he wanted to buy a ticket to Jakarta, Indonesia’s capital. No flights were available, however, so he spent the night at the airport while contacting a friend to help him transfer S$2,000 into his Indonesian bank account.

Remitting the Money Back Home

The friend told him to just use a remittance service moving forward, and Silitonga started remitting the money back home, using various accounts – his own, his friend’s, and his girlfriend’s. However, at the venue things were agog. Tham became aware of the missing tickets and he notified policy who examined the CCTV footage and found out that Silitonga was indeed the person who had collected the money.

He was finally arrested at the airport prior to his departure. The man though has refused to return the S$17,000 he has remitted to various accounts and did not tell what he did with the rest of the money. He made no restitutions nor did he try to return the money. His only alleviating factor in his sentencing was the fact that he admitted guilt and thus received a lighter sentence.

On the whole, Silitonga dodged a bullet, as his sentence could have been much stiffer, leading to up to two years in prison and a fine. Then again, if he had agreed to return the money, he may have avoided some of the prison time he is now going to serve.  

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The latest such action has been taken against a 45-year-old Malaysian who is suspected to be a part of an international criminal syndicate. The man is said to have recorded cards dealt during a game of baccarat hosted out of the Marina Bay Sands, the regulated land-based casino in the jurisdiction.

Police Cooperates with Malaysia to Bring in the Man

The Singapore Police have released details about the suspect, who is linked to a probe by the Casino Crime Investigation Branch of the Criminal Investigation Department. Previously, the Department went after a 27-year-old Taiwanese man and another Malaysian man aged 35. Both have been charged as members of a criminal syndicate, with the police confiscating more than $520,000 worth of casino chips, cash, and a mobile phone in their possession.

The latest suspect was arrested on Thursday, June 8, with the help of the Royal Malaysia Police but he was sent back to Singapore last week. In Singapore, a court charged the man with a conspiracy to use things prohibited under Section 171(1) for the purposes of gambling. The charges were delivered on the very next day – Friday, June 9.

If found guilty, the 45-year-old suspect could face up to seven years and a fine up to $111,000, or both. Singapore has reformed its penal code regarding casino and gambling offenses recently, and it takes a much tougher stance on organizers of illegal gambling activities than it does on participants.

Singapore Police Remains Vigilant on Matters of Illegal Gambling

In the meantime, the Singapore Police Force has assured that it would not leave instances of criminal activities linked to gambling unpunished. The police have been actively participating in various investigations, including a large-scale recent probe that names 89 people as possibly involved in illegal horse betting activities.

The Singapore Police Force released details about this particular case late in May, saying that 85 men and four women aged 38-84 were all possibly involved. They were arrested over a ten-day period between May 10 and May 20. The case was made public by local media outlets, including The Strait Times, and the police is now sorting the suspects, who are threatened by a $7,400 fine or a prison sentence of up to six months, or both.

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Light & Wonder is aiming high in Asia with its participation in Global Gaming Expo (G2E) Asia. The event runs from May 30 to June 1 this year at Marina Bay Sands in Singapore.

While precise details will not be publically available until revealed at the show for some of the company’s advancements in the Asian market, the former Scientific Games has teased some info on its comprehensive cross-platform loyalty program with an array of customizable features for operators to retain and attract customers.

Differentiating Solutions from Industry Leaders

The new Systems enhancement will complement the current products in use and give operators a distinctly differentiated solution for integration into platforms already in use across the loyalty space.

Regarding the behemoth game provider and developer’s debut of new games meant to capture and keep players in one of the world’s most rapidly developing markets, each pick seems capable of carrying its weight to help L & W reach the goal of Number One in Asia.

Starting with the electronic table game (ETG), RouletteX, players stand a chance to win much more on a roulette game than they normally would. By choosing their own volatility (risk v reward) players can reap up to 500x their bet on a single number. The game is played on Light & Wonder’s Quartz Standalone and Hybrid platform.

Dragon Tail Baccarat is now available for play on the Quarts Stand-alone system. The new title offers free games and side bats along with a touch screen that displays a variety of interactive features for the player to choose from. Operators on the other hand will have access to statistics, trend displays that can be custom-configured, game history, a bet scheduler, and a timer option as options to offer players.

Not to risk being mired in excellent floor games before even mentioning slots and progressive slots we’d be remiss not to bring up the company’s 2022 Global Gaming Awards Asia’s “Casino Product of the Year,” the MDX card shuffler. It is deserving of its own showcase and will receive it at the show along with some of the live dealer games served by it.

The time-proven Blazing 7s Blackjack Progressive will be featured and find its way to Asian casino floors this year with side bets based on 7-pip cards. Players who choose to play the 7s will win if their first card is a 7 – win even more if their second is a seven and go rolling in the bank if the dealer’s first card is a 7 too.

“Our Asian customers are excited to energize their casino floors and discover the tremendous value created for their players who want more modern, immersive game content with solutions and services to enhance the guest experience,” said Simon Johnson, Light & Wonder Senior Vice President and Managing Director, International Gaming.

“Light & Wonder is taking the lead in performance and ship share across key Asian markets, an indicator that our ambition to be number one in the Asian market is well on its way to be actualized. To respond to this forward momentum and the demand for next-generation content, our team of award-winning game designers and studios have created a robust pipeline of next-level experiences, content, technology and systems that will reach across multiple platforms and markets.”

Slots for Asia Extend Popular Franchises

Popular game families and franchise strings from Light & Wonder that will see new editions and additions for Asia include Dragon Unleashed, DUŌ FÚ DUŌ CÁI GRAND, Dancing Drums Explosion, and Coin Combo.

Coin Combo adds VIP to its name as well as titles such as Carnival Cow and Hyper Horse with progressive jackpots. Both of the franchise extensions were purpose-built specifically for the Asian market and will be available on the KASCADA Portrait 43” cabinet.

A Dual Screen version of the Kascada will debut at the show for the very first time. Edge lighting and a signature reflector compliment the 43″ cabinet to give it a striking presence on any casino floor. Look for the market-unique cabinets to feature two high-resolution 27” monitors and a floating 27” topper for dynamic game content.

Ingotcha and Dragons are two new titles joining the DUŌ FÚ DUŌ CÁI Grand family of games with jackpot-rich features. Player-favorite features remain in popular games but innovations improve playability and broaden the audience.

Red Fleet and Treasured Happiness are two titles joining Dragon Unleashed in that franchise and the new games carry the originals deep into big win territory with free games and respins adding to the familiar features. The franchise is now arguably one of the most exciting game series to be found on any casino floor and has been added to the Kascada Duel Screen cabinet for side-by-side theatrical game presence – especially during the Dragon Reel feature.

Source: Light & Wonder aiming for number one in Asia at Singapore show, G3 Newswire, May 24, 2023

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Two massive integrated casino resorts in Singapore will not meet their previously agreed to target dates for expanding – affecting not only their mid-term growth strategies but potentially government revenues.

In 2019, the Republic of Singapore in maritime Southeast Asia reached agreements with both Resorts World Sentosa and Marina Bay Sands regarding expansions of the casino resorts. The investments were reportedly worth a total of about $6.77 billion (about SG$9 billion).

According to a report on Japan’s Nikkei Asia, Marina Bay Sands owner Las Vegas Sands stated in March 2023 that it would be pushing its target date back – the second time it had made such an announcement and it followed one made the year before.

Hotel Towers and Arena to be Completed in 2028

The new outline sees the construction of a planned 1,000-suite hotel tower and a 15,000-seat multipurpose arena commence in April of next year and be completed in April 2028.

Resorts World Sentosa (RWS), located on Singapore’s resort island of Sentosa began construction of a new attraction at Universal Studios Singapore, located on the resort property there, and renovations on the site’s aquarium. No activity has been reported on a new hotel at the resort that was previously announced as part of the planned expansion.

The expansion at RWS was originally planned to be completed either next year or in 2025 but in 2020 the resort’s parent company, Genting Singapore said that the Covid crisis would delay the project’s completion for an undetermined amount of time. No specific date for completion has been announced, but Nekeii media reports that an Asian analyst has mentioned that 2027 or 2028 are most likely.

Nearly all construction was sidelined in Singapore due to the coronavirus outbreak through nearly all of 2020 and most of 2021. Impacts included not only a shortage of migrants to accomplish the work but also supply chain disruptions that made it difficult to procure construction materials.

Chinese Tourism Expected to Rebound

According to analysts with Malayan Banking Berhad, by the end of 2023, the number of Chinese tourists visiting the region, and specifically the integrated resorts of Marina Bay Sands and Resorts World Sentosa is expected to return to pre-pandemic levels. However, the delay in growth plans does present some risk of dissuading visitors from coming.

Global inflation also has the potential to add costs to the projects. While Genting Singapore posted net profits in 2022 of some 86% over those of 2021, last year’s profits of SG$340 million (US$255m) were still only about half of what they were in 2019. However, since China has relaxed Covid-related travel restrictions recently those numbers are expected to eventually rebound.

Another Chinese tourist destination with casinos has seen marked growth and steadily increasing revenues since China’s “Zero-Covid” policy was jettisoned after civil unrest on the mainland and the recommendation of health authorities there to bring mitigation measures more in line with those in the rest of the world.

Source: Singapore’s casino resort expansions mired in delays, Nikkei Asia, April 9, 2023

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The newly formed Gambling Regulatory Authority (GRA) has announced a complete ban on the use of cryptocurrencies in land-based casinos, reported Inside Asian Gaming. 

Regulator Aims to Prevent Cryptocurrency Usage in Singaporean Casinos

Albert Yeo, GRA’s General Counsel, stated that casinos have no appetite for the volatile revenue stream associated with cryptocurrencies. The agency aims to prevent digital currencies from even entering the casinos, as allowing their use could prove difficult to stop once it began. Yeo added that the agency is examining legislative frameworks to prevent their use in casinos.

Yeo revealed that the agency is currently engaging with game developers to understand the implications of blockchain-based games like Axie Infinity, where players can trade NFTs and earn Rare Antiquities Tokens. The regulator is grappling with whether this currency constitutes money, money equivalent, or anything of value. If players earn cryptocurrency in the game, they can easily take it out and put it on exchanges.

Singapore’s broader reluctance to regulate the trading or use of cryptocurrencies extends to a ban on advertising by crypto exchanges. The Monetary Authority of Singapore, in a statement issued last November, emphasized the risks of dealing in cryptocurrencies, stating that crypto exchanges can and do fail and cryptocurrencies themselves are highly volatile, with many losing all value.

GRA Takes Holistic and Agile Approach to Regulate Singapore’s Gambling Landscape

The Gambling Regulatory Authority (GRA), established in August 2022 to oversee the entire gambling landscape in Singapore, is designed to keep pace with technological and gambling trends. Its attention is primarily focused on the use of crypto in online gaming, as tracking blockchain transactions poses a significant challenge for regulators.

The GRA replaced the Casino Regulatory Authority (CRA) and is overseeing all forms of gambling in the country, including new products that use technology to blur the line between gaming and gambling. 

The GRA was established through the Gambling Regulatory Authority of Singapore Act and the Gambling Control Act, both of which were passed in March 2022 and came into force on August 1 of the same year. 

The Ministry of Home Affairs reviewed and updated the Casino Control Act to reflect the changes in the industry, and the GRA refreshed the licensing regime to issue more licenses for higher and lower-risk gambling activities. The new regulator has pursued the goal to take a holistic and agile approach to keep up with the pace of change in the gambling industry.

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