Singapore renewed Genting Singapore Ltd.’s casino license for a shortened two years after regulators said its tourism performance was “unsatisfactory”.

Singapore’s Gambling Regulatory Authority, which usually extends casino licenses for three years, said Genting’s Resorts World Sentosa had areas that “require rectification and substantial improvement” following a review. The casino’s new two-year term will begin from Feb. 6 with the next evaluation to take place in 2026.

Genting said the government’s evaluation, which took place between January 2021 and December 2023, coincided with the global Covid-19 pandemic, when the company faced “significant challenges”.

Featuring more than 550 gaming tables and over 2,400 slot machines, Resorts World Sentosa is one of just two casinos in the city-state, the other being Marina Bay Sands. Last week, Resorts World Sentosa broke ground on a $5 billion waterfront expansion that will add 700 new hotel rooms, a new Minions-themed area at its Universal Studios Singapore theme park and build out its aquarium.

Genting said Resorts World Sentosa “continues to accelerate its transformation to refresh and rejuvenate existing offerings to deepen its destination appeal and visitor experiences”.

Its main rival, Marina Bay Sands, is also looking to expand. It is seeking a loan of around S$12 billion ($9 billion), the largest financing from Singapore, to help fund the construction of a new fourth tower and a 15,000-seat arena designed to be a live entertainment venue and a conference space.

Marina Bay Sands is also set to seek a renewal for its casino license, which expires in April.