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Sunday 31 January 2010
$100K to be premium player at casino
So in Singapore’s casinos at Resorts World Sentosa and Marina Bay Sands, premium players - including those from Singapore - can place a minimum deposit of $100,000 with the casinos or licensed junket promoter to receive credit.
$1 million fine if casinos allow banned gamblers in
By ARTHUR SIM 30 January 2010
The last thing high rollers or premium players want to worry about is not having enough cash to gamble.
So in Singapore’s casinos at Resorts World Sentosa and Marina Bay Sands, premium players - including those from Singapore - can place a minimum deposit of $100,000 with the casinos or licensed junket promoter to receive credit.
For all other players, who are also known as ‘the grind’, gambling at the casino will be on a cash-only basis. Credit cards will also not be accepted from non-premium players, Singaporeans or permanent residents.
Charlotte Beck, a director at the National Council on Problem Gambling (NCPG) said: ‘The $100,000 deposit is a high threshold and therefore, most local patrons will not be able to gamble on credit.’
The credit limit will be up to the casinos and junket operators.
Ms Beck was speaking at a media briefing yesterday where she also elaborated on initiatives taken by NCPG to tackle problem gambling, including the possibility of on-site counselling services for problem gamblers.
To date, there are about 29,000 Singaporeans who are banned from entering the casinos. Most have been declared bankrupts. This list of names will be updated to the casinos via data transfers daily.
NCPG also said that the failure to prevent someone on this list from entering the casino could lead to a fine of up to $1 million for the casino operator.
A system to allow gamblers to voluntarily set limits for gaming is also being established.
The entry levy of $100 per day or $2,000 per year is still likely to be the most effective way to deter people from getting addicted to gambling.
Which is why NCPG will be monitoring if the casino operators find ways to indirectly refund or reimburse gamblers through rewards or loyalty programmes.
In many casinos, rewards/loyalty points are given to gamblers based on on how much chips they buy. These points can be redeemed for complimentary hotel stays, food or even travel.
Chairman of NCPG Lim Hock San added: ‘NCPG works closely with the Casino Regulatory Authority to ensure that the entry levy is not being circumvented. Should the casino operator be found to have flouted Section 116(3) (of the Casino Act), through business practices that nullify the intended effects of the levy, it would be taken to task.’
Jonathan Galaviz, an independent travel and leisure sector strategist, said that while customer loyalty programmes are very important for all tourism companies, ‘I do believe that allowing the casinos to directly or indirectly reimburse customers the casino entry levy goes against the spirit of the Singapore law and regulations regarding casino entry fees’.
Mr. Galaviz also said that the $100,000 deposit to be a premium player is not particularly high. ‘Just because a customer can deposit $100,000 doesn’t necessarily mean that the customer is a wealthy individual; it could easily be an individual that is middle-class and chooses to have a big night out,’ he said.
Vincent Khoo, head of research at UOB Kay Hian in Malaysia, who also covers the gaming sector, said that different casinos and junket promoters set different ‘security’ or deposit requirements. He said that deposit requirements ‘are not an issue; it’s small amount’.
1 comment:
$100K to be premium player at casino
$1 million fine if casinos allow banned gamblers in
By ARTHUR SIM
30 January 2010
The last thing high rollers or premium players want to worry about is not having enough cash to gamble.
So in Singapore’s casinos at Resorts World Sentosa and Marina Bay Sands, premium players - including those from Singapore - can place a minimum deposit of $100,000 with the casinos or licensed junket promoter to receive credit.
For all other players, who are also known as ‘the grind’, gambling at the casino will be on a cash-only basis. Credit cards will also not be accepted from non-premium players, Singaporeans or permanent residents.
Charlotte Beck, a director at the National Council on Problem Gambling (NCPG) said: ‘The $100,000 deposit is a high threshold and therefore, most local patrons will not be able to gamble on credit.’
The credit limit will be up to the casinos and junket operators.
Ms Beck was speaking at a media briefing yesterday where she also elaborated on initiatives taken by NCPG to tackle problem gambling, including the possibility of on-site counselling services for problem gamblers.
To date, there are about 29,000 Singaporeans who are banned from entering the casinos. Most have been declared bankrupts. This list of names will be updated to the casinos via data transfers daily.
NCPG also said that the failure to prevent someone on this list from entering the casino could lead to a fine of up to $1 million for the casino operator.
A system to allow gamblers to voluntarily set limits for gaming is also being established.
The entry levy of $100 per day or $2,000 per year is still likely to be the most effective way to deter people from getting addicted to gambling.
Which is why NCPG will be monitoring if the casino operators find ways to indirectly refund or reimburse gamblers through rewards or loyalty programmes.
In many casinos, rewards/loyalty points are given to gamblers based on on how much chips they buy. These points can be redeemed for complimentary hotel stays, food or even travel.
Chairman of NCPG Lim Hock San added: ‘NCPG works closely with the Casino Regulatory Authority to ensure that the entry levy is not being circumvented. Should the casino operator be found to have flouted Section 116(3) (of the Casino Act), through business practices that nullify the intended effects of the levy, it would be taken to task.’
Jonathan Galaviz, an independent travel and leisure sector strategist, said that while customer loyalty programmes are very important for all tourism companies, ‘I do believe that allowing the casinos to directly or indirectly reimburse customers the casino entry levy goes against the spirit of the Singapore law and regulations regarding casino entry fees’.
Mr. Galaviz also said that the $100,000 deposit to be a premium player is not particularly high. ‘Just because a customer can deposit $100,000 doesn’t necessarily mean that the customer is a wealthy individual; it could easily be an individual that is middle-class and chooses to have a big night out,’ he said.
Vincent Khoo, head of research at UOB Kay Hian in Malaysia, who also covers the gaming sector, said that different casinos and junket promoters set different ‘security’ or deposit requirements. He said that deposit requirements ‘are not an issue; it’s small amount’.
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