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Singapore
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Singapore’s Marina Bay Sands casino reviews transfers of US$1 billion in gamblers’ money

  • The casino, owned by US billionaire Sheldon Adelson’s Las Vegas Sands Corporation, has hired top Singapore law firm Davinder Singh Chambers LLC
  • Singapore police are also investigating third-party transfers, which are legal when authorised, and used to pool winnings and losses at different casinos

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Singapore’s Marina Bay Sands hotel and casino. The review by a top law firm adds to scrutiny of the casino by the US Department of Justice and Singapore authorities after a patron sued the company last year. Photo: SCMP/Roy Issa
Bloomberg
Las Vegas Sands Corporation’s Singapore casino has hired a law firm to conduct a new investigation into employee transfers of more than US$1 billion in gamblers’ money to third parties, according to people familiar with the matter.
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Davinder Singh Chambers LLC, which specialises in dispute resolution and international arbitration, was appointed after Singapore police began a probe of third-party transfers at Marina Bay Sands, said the sources, who asked not to be identified discussing private matters.
The review by one of Singapore’s best-known law firms adds to scrutiny of the casino by the US Department of Justice and Singapore authorities after a patron sued the group last year alleging that S$9.1 million (US$6.7 million) of his money was transferred to other gamblers without his knowledge. The lawsuit was settled out of court in June, with the casino agreeing to reimburse the full amount. There was a “non-admission” of liability from both sides.

Marina Bay Sands said in a statement that when issues regarding the handling of client transfers were raised, the company thoroughly reviewed the matter and concluded that no patron funds were transferred in a manner that was contrary to the client’s intent.

“MBS continues to work closely with its regulators to monitor MBS’s compliance with all legal obligations,” the casino said.

Las Vegas Sands dropped 4.2 per cent in New York, after earlier plunging as much as 8.9 per cent, the most since March. The shares were down 25 per cent this year as of Tuesday’s close.

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A representative for Davinder Singh Chambers declined to comment. The Singapore police force said it is inappropriate to comment as investigations are ongoing.

The client lawsuit sparked scrutiny by a slew of authorities into how Marina Bay Sands handled and monitored third-party transfers. The transactions, when authorised, are legal and used by groups of wealthy gamblers in Asia to pool winnings and losses at different casinos.

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