The Asian casino behemoth which owns and operates the iconic Resorts World Sentosa gambling-friendly complex, Genting Singapore Limited is about to initiate a series of layoffs due to the ongoing coronavirus pandemic. As reported by several local news outlets, the company’s officials revealed the news following a massive business downturn caused by lockdowns and other measures that were set in place back in April.

The Genting Group is a firm based in Kuala Lumpur, Malaysia which has several prominent subsidiaries including its Genting Singapore Limited which is responsible for Resorts World Sentosa. Genting Singapore Limited runs the iconic one hundred and twenty-acre gambling-friendly, fully integrated casino resort for the Genting Malaysia Berhad. The luxurious resort opened its doors in January of 2010.

It is located on the southern coast of Singapore and it is home to several remarkable attractions including the Adventure Cove Water Park, a Universal Studios theme park as well as S.E.A. Aquarium that features the second-biggest oceanarium in the world. The resort was developed by the Genting Singapore firm for around US$4.93 billion which made it one of the most expensive buildings of this kind developed in 2010.

The Iconic Resorts World Sentosa Complex

The fully integrated, gambling-friendly resort occupies over one hundred and twenty acres of land and it employs over 10,000 locals. The casino featured within the complex opened its doors on the 14^th of February 2010 alongside several other amenities including the massive FestiveWalk mall. In 2011, the resort also opened the Maritime Experiential Museum while in 2012, Resorts World Sentosa opened the Marine Life Park.

Due to the ongoing coronavirus pandemic, the resort has faced rather a series of challenges and obstacles to stay afloat and one of these includes struggling with a massive downturn in business as a direct result of the pandemic. In one of the most recent press releases, officials at Genting Singapore Limited which runs the resort declared that the company had decided to introduce a number of redundancies after a long period of consultation and deliberation.

The same official press release proclaimed that the iconic Resorts World Sentosa as well as the Marina Bay Sands facility closed their doors to the public temporarily back on the 7^th of April following the rising number of residents being infected with the highly-contagious, potentially-deadly novel coronavirus strain. Both Marina Bay Sands and Resorts World Sentosa started reviving some of their non-gaming operations on the 19^th of June while they re-opened their casino floor partially some fifteen days ago.

Implementation of Workforce Rationalization

Following massive downturns in business, the Asian casino operator responsible for Resorts World Sentosa revealed that it has made the decision to initiate a workforce rationalization to combat the negative consequences of the ongoing coronavirus pandemic on its business operations. The decision was made following comprehensive reviews of costs, as well as significantly reduced salaries of the company’s management team which went down by thirty percent.

The company’s officials also revealed that Genting Singapore Limited will work with local trade unions including the Attractions, Resorts, and Entertainment Union alongside some government agencies to keep as much of its local staff as possible. Lastly, the company’s officials revealed that they will present every single of its departing employees with several new job opportunities.

One of the leading investment banks in Asia has warned the Marina Bay Sands venue in Singapore that its recently-launched investigation may cost the facility a massive share of the VIP casino gambling market. The investigation was launched in order to determine whether the iconic gambling-friendly venue may have breached some of the mandatory anti-money laundering efforts and procedures.

According to one report released by Inside Asian Gaming, the investment bank which launched its investigation on Marina Bay Sands is Maybank Investment Bank Berhad based in Malaysia. The latest reports on the matter suggest that the inquiry started by the US Department of Justice into potentially breached anti-money laundering protocols at Marina Bay Sands may prompt many VIP high-rollers to start spending their money at the venue’s biggest competitor, the Resorts World Sentosa facility which is located nearby.

Marina Bay Sands Opened in 2010

The Marina Bay Sands facility owned and operated by Las Vegas Sands opened its doors to the public on the 27^th of April in 2010. The official opening took place on the 23^rd of June that same year while the grand opening ceremony took place on the 17^th of February 2011. Located in Downtown Core, Singapore, Marina Bay Sands is one of the most expensive, most luxurious integrated resorts of this kind in the world.

With a total value of over 5 Billion USD and a massive complex with more than two thousand rooms and a huge casino floor with over a thousand slot machines and hundreds of tables, Marina Bay Sands is one of the largest and most valuable casino properties in the world.

The Marina Bay Sands resort also features two Crystal Pavilions, a massive infinity swimming pool, and many signature attractions including the Sands SkyPark, The Shoppes at Marina Bay Sands, The Sands Expo and Convention, Bay Flora, Marina Bay Club, Marina Bay Sands Art Path, Art Science Museum, and Wonder Full among others.

Federal Investigation and Money Laundering Facilitation

Details about the federal investigation emerged via a report released by the Bloomberg news outlet. The report was released after a former compliance chef for Marina Bay Sands was requested by a grand jury to hand over all documentation related to possible money laundering facilitation and possible breaching of money-laundering protocols and financial controls.

The iconic Marina Bay Sands facility has held over fifty percent of the entire VIP casino gaming market in the country since 2018. Last year, the venue has enjoyed an even bigger fifty-seven percent share. Nonetheless, its VIP gaming business is at great risk following the federal investigation into possible breaches of its money-laundering protocols and practices.

Samuel Yin Shao Yang working for Maybank Investment Bank Berhad told several local news outlets that the venue’s VIP business has already been significantly damaged ten years ago after a similar investigation was conducted by officials in the USA. This investigation in particular was launched after Sands China Limited’s former Chief Executive Officer Steven Jacobs a lawsuit against the company. At the time, the property’s high-roller share of the high-roller market in Singapore went down to around thirty-three percent.

Due to the ongoing coronavirus pandemic which as of the 6^th of April is present in over two hundred countries, casino facilities located in Singapore are the latest ones to shut down their operations temporarily. This news came shortly after the government of Singapore had ordered the state’s two integrated casino resorts to shut down their operations at least for thirty days as the government is working on stepping up its efforts to prevent spreading of a coronavirus pandemic which according to the latest reports have killed six residents of the state.

Globally looking, the ongoing coronavirus pandemic resulted in over 74,800 deaths while over 277, 000 infected individuals have recovered. At the same time, there are more than 1.34 million cases of infections recorded around the globe. Efforts taken by governments in order to prevent the coronavirus spread include quarantines, travel restrictions, curfews as well as event cancellations and postponements, hazard controls at workplaces and facility closures and this includes casino venues operating across the globe.

Resorts World Sentosa Closing Its Casino and Suspending Hotel Reservations

As the government of Singapore ordered the state city’s gambling and entertainment facilities to shut down their operations until at least the 4^th of May, the iconic Resorts World Sentosa venue and even bigger Marina Bay Sands will be shuttered. At the same time, the nation of over 5.7 million residents has also temporarily closed workplaces which are non-essential while the government has instituted that everyone is homeschooled.

The Resorts World Sentosa facility opened its doors ten years ago on the 20^th of January. It is located on the Sentosa island and operated by Genting Group. Some of the key attractions of the Resorts World Sentosa venue include its two casinos, a massive theme park Universal Studios, and many others. The venue’s officials issued an official statement several days ago to reveal that the facility’s casino floor will be closed for at least four weeks.

The venue’s officials also said that restaurant and hotel reservations are also temporarily suspended as ordered by the state’s government. The officials also added that the venue’s beverage and food outlets which support daily living needs will remain open for deliveries and takeaway. At the same time, those non-gaming operations including the resort’s Adventure Cove Waterpark and Universal Studios Singapore attractions were also decommissioned.

Marina Bay Sands Following the Same Steps

Owned and operated by Las Vegas Sands, Marina Bay Sands is one of the biggest integrated casino and hotel resorts in Asia. The resort opened its doors ten years ago on the 27^th of April in 2010. At the time of its opening, Marina Bay Sands was billed as the most expensive casino property in the world valued at $5.88 billion. The property includes a hotel area with over two thousand and five hundred rooms alongside a convention center, museum, two theatres, a mall and of course, a massive casino floor with five hundred gaming tables and over one thousand and six hundred slots machines.

For its part, officials at Marina Bay Sands issued a very similar press release in which they informed all interested patrons that its casino floor will remain shut for at least thirty days. The officials also said that other resort operations and services will be also closed while all restaurant and hotel bookings are canceled while guests will get their money back. Before these closure measures, the state-city had already banned foreign visitors while two integrated casino resorts were ordered to institute safety and protection measures including safe-distancing and limiting the number of visitors and players allowed to gamble at their casinos.