THE opening of Singapore's first integrated resort (IR) - expected to be on or just before Chinese New Year - will kick off a new chapter in the history of Singapore's tourism industry and, indeed, of its economy.

While this is worth celebrating, it is also to be hoped that everything has been done to ensure that the casino operations, especially, adhere to the regulations laid down by the Casino Control Act in both letter and spirit.

As this is the first time a casino will be officially operating in Singapore, it is particularly important that not only the thrills and games, but also the regulatory regime, gets off to a smooth start.

The application process for the licence granted to Resorts World Sentosa (RWS) appears to have gone smoothly. By all accounts, the probity checks have been very thorough. However, the outcome of these checks on a couple of widely reported issues still remains unknown.

RWS raised eyebrows several times over the last five years about its business links, albeit tenuous, with Macau casino tycoon Stanley Ho and his daughter Pansy.

While these historical associations were no doubt well investigated and not viewed as impediments to Genting being awarded its licence, it would be helpful, for credibility's sake, if Singapore's Casino Regulatory Authority (CRA) were transparent about the outcome of its investigations. The licence issue aside, there is also the question of the efficacy of the $100 levy on Singaporeans using the casino. The Casino Control Act states that direct or indirect redemption of the levy will contravene the Act. But there are grey areas here that are open to interpretation. For example, would loyalty programmes offered to casino patrons (similar to those offered by credit card sponsors) be considered indirect redemptions? How about the common practice of rebates or commissions that casino operators give premium players to entice them to gamble?

The policing of indirect redemptions, at least, will be no easy task. At the moment, we have the CRA and the Casino Crime Investigation Branch (CCIB) with about 200 and 30 staff respectively, to deal exclusively with casino matters.

But the CRA will have its hands full enforcing the Casino Control Act and its grey areas. And while the CCIB will deal with crimes within the casinos, illegal activity occurring on the fringes like money laundering, prostitution and drug peddling will also need to be watched.

The integrated resorts are a welcome addition to Singapore's tourism scene, and there can be little doubt about their economic benefits. But experience elsewhere suggests that they will also entail social costs, which need to be minimised. Hopefully, the learning curve in doing this will be a short one.