Saturday, August 28, 2010

Singapore company bars top management from casinos

Published: 2010/08/28

SINGAPORE: A Singapore company has banned its top management from the country's two new casinos after reports that a local businessman lost a fortune at the gaming tables, its founder said yesterday.

Mohamed Salleh, chief executive officer of retail and property firm Second Chance, said he had applied for casino exclusion orders for himself and six of his top personnel using a system designed to keep gambling addicts out.

"A few days ago I read about this Henry Quek... who lost S$26 million (S$1 = RM2.32) at this casino, so I was thinking, why not I include all my top executives and my finance people?" he said.

Mohamed said his decision was also prompted by a case in which one of his managers stole gold items from the firm to pay off gambling debts before the casinos opened their doors.

"It's better to be safe than sorry," said Mohamed.

Financial group DBS said on Thursday that Singapore's two casino resorts are expected to contribute S$2 billion to the country's economy this year. - AFP

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