Singapore’s Casino Regulatory Authority has renewed the casino license of Marina Bay Sands for another three years.
The CRA said the renewal, which takes effect 26th April, comes with requirements but did not elaborate.
The authority did, however, remind MBS “that it is an ongoing requirement for its associates to remain suitable”—an apparent reference to legal issues confronting parent company, NYSE-listed Las Vegas Sands, which is under investigation by the US Justice Department and the US Securities and Exchange Commission in connection with its business activities in China. The investigations center on whether LVS may have violated provisions of the Foreign Corrupt Practices Act, which forbids the payment of bribes or other favors by US companies to foreign officials.
The CRA said it is “aware of the investigations by US authorities into the allegations and have kept in contact with our US counterparts to closely monitor these matters.”
The renewal also comes as Las Vegas Sands is battling two lawsuits by individuals seeking shares of the massive profits the company has earned since entering Macau a decade ago. The plaintiffs in both cases say Sands reneged on agreements to pay them for assistance they claim they provided in helping the company obtain its Macau casino license.
Marina Bay Sands opened in April 2010 as the second of two integrated resorts authorized by the Singaporean government. The other, Genting’s Resorts World Sentosa, had its license renewed in February.
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