The Investment Whisperer
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

The Investment Whisperer

World

Singaporean man ordered to repay tens of millions in debt to Australian casino

by admin September 10, 2024
September 10, 2024
Singaporean man ordered to repay tens of millions in debt to Australian casino

A Singaporean man has been ordered to repay more than 38 million Australian dollars ($25.7 million) after he lost big during a gambling spree at an Australian casino over the span of a few days.

Queensland’s Supreme Court ruled Monday that Yew Choy Wong owed that amount to the Star Gold Coast, as well as the casino’s legal fees and interest. He had racked up losses of 47.3 million Australian dollars ($31.5 million) there between July 26 and August 2, 2018.

Wong fled the country without settling his bill, according to court documents. The casino tried to recoup its losses using a blank check Wong had given its sister property, the Star Sydney, a year prior, but that check bounced after Wong told his bank not to pay out any checks from the Star, the ruling said.

The casino then tried to recover the debt in 2019 by suing Wong in Singapore, but that case was dismissed a year later because Singaporean law largely prohibits the recovery of gambling debts.

According to court documents from that case, Wong frequently played the card game baccarat at the Star’s casinos, during which he and his “entourage of some 28 people” were flown to Queensland by the casino and housed in its private salons.

In the more recent case, Wong argued he did not owe the Star any money because he had complained about the way the casino’s dealers had dealt cards to him, after which he stopped gambling.

Wong said he resumed gambling after the Star’s chief operating officer, Paul Arbuckle, verbally agreed that Wong would not have to pay for losses he had already incurred and that the casino would waive any further losses, if the dealers repeated their alleged mistakes.

Arbuckle denied making this agreement, according to the ruling.

Star Entertainment, which owns the Gold Coast casino, declined to comment on the case.

In a letter presented to the court, which was addressed to Wong and signed by Arbuckle, the COO apologized for “difficulties” Wong experienced during his visit, but noted the mistakes would have had no direct financial impact on Wong. The letter did not mention waiving Wong’s debt.

The casino also paid Wong hundreds of thousands of dollars in goodwill payments following his complaints, the ruling said.

Justice Melanie Hindman said: “The alleged agreement pleaded by Dr Wong is not evidenced by the letter of apology or otherwise supported by any other evidence adduced in the trial.”

This post appeared first on cnn.com

0
FacebookTwitterGoogle +Pinterest
previous post
Liberal think tank’s deep ties to Biden admin, far-left policies could come back to haunt Harris campaign
next post
US and Chinese commanders hold rare talks to dial down risk of ‘miscalculation’

Related Posts

Venezuelan opposition leader Maria Corina Machado detained at...

January 10, 2025

‘I hope you don’t get shot down by...

December 24, 2023

Colombia expels Argentine diplomats after Milei calls Petro...

March 30, 2024

Japanese people could all be called Sato by...

April 6, 2024

Temperatures in Pakistan cross 52 degrees Celsius —...

May 29, 2024

The US now considers these cartels and gangs...

February 22, 2025

Emergency teams respond to Delta plane crash at...

February 18, 2025

Syrian government loyalists accused of executing civilians as...

March 10, 2025

AfD becomes first far-right party to win German...

September 2, 2024

The Taliban say they will close all NGOs...

December 31, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (1,363)
    • Investing (3,238)
    • Politics (4,381)
    • World (4,316)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheInvestmentWhisperer.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 TheInvestmentWhisperer.com | All Rights Reserved