Singapore’s Marina Bay Sands casino, owned by US billionaire Sheldon Adelson, faces money-laundering probe
- With a profit margin ranging from 53 per cent to 56 per cent in the three years ending in 2019, Marina Bay Sands is among the world’s most profitable gaming resorts
- US Department of Justice is investigating whether anti-money-laundering regulations were breached in the way accounts of top gamblers were handled
The Justice Department in January issued a grand jury subpoena to a former compliance chief of Marina Bay Sands, seeking an interview or documents on “money laundering facilitation” and any abuse of internal financial controls, according to a copy of the subpoena.
Prosecutors asked the former compliance head, as a person with knowledge of the casino’s operations, to produce records related to any such violations including through gambling junkets and third-party lending using casino credit, the document shows.
The US inquiry, which people familiar with the matter said is likely in its early stages, is also seeking to establish if there was any retaliation against whistle-blowers, according to the subpoena.
Marina Bay Sands is one of the most profitable casinos in the world, accounting for more than one-fifth of revenue and about a third of operating income at the US parent. Las Vegas Sands’ Asian operations, which also include Macau, contributed about 85 per cent of the company’s US$13.7 billion in revenue last year, and have helped make Adelson one of the richest men in the US.
