$43M CHIP FIGHT
Star casino sues VIP high roller over massive baccarat debt
STAR Entertainment Group has a fight on its hands to claw back an eye-watering $43.2 million loss racked up by a high roller at its Gold Coast casino.
Star is pursuing visiting businessman Dr Yew Choy Wong via the High Court in Singapore for the debt racked up during a fiveday baccarat stint in Broadbeach.
Dr Wong refuses to pay, citing dealer “mistakes”, with his lawyer saying he will contest it and “vindicate his decision to stop payment”.
Star, which flew Dr Wong in on a private jet and gave him a $200,000 starter, plans to pursue the debt “vigorously”.
STAR Entertainment Group is suing a high roller refusing to pay a $43 million debt racked up on the Gold Coast after flying him in via private jet and gifting a $200,000 starter.
Star has lodged High Court action in Singapore to claw back the whopping loss by Dr Yew Choy Wong during a fiveday baccarat session last year at its swanky Broadbeach site.
The globetrotting Singaporean high roller – believed to be a regular at casino VIP rooms worldwide – has indicated he will fight the court action and was justified in not paying.
Dr Wong arrived on the Gold Coast on July 26 after taking up a Star VIP invite. By the time he flew out on August 1, he amassed $43.2 million in losses after about 1500 hands.
The Star court action is understood to be the largest casino debt claw back attempt ever filed in Singapore. A Star statement said it was “pursuing the debt vigorously”: “We would not be wasting the court’s time unless we felt our position was extremely robust.”
It is understood Dr Wong gave a blank cheque on arrival, setting a limit for losses and was within that on departure.
During his visit, he was given $40 million in chips initially and then a further $10 million in chips three days into his stay.
On return to Singapore he stopped the cheque, claiming dealer “mistakes” – and a promise given by a Star executive because of those mistakes – meant he did not have to cough up the debt.
A Star letter to Dr Wong, obtained by the Bulletin, shows Star apologising for not following his “gaming preferences”, referred to by Star as “mistakes”.
Star’s grovelling August 1 letter fesses up to a dealer moving cards in Dr Wong’s direction when he was skipping a hand.
It is understood other “mistakes” which upset Dr Wong included a dealer turning over his cards when he wanted to do it.
The letter says none of the mistakes had a direct financial impact on him and he was also compensated at the time.
Dr Wong’s lawyer Abraham Vergis told Singapore’s The Straits Times: “Dr Wong will contest the case as a matter of principle and intends to vindicate his decision to stop payment. Dr Wong continues to enjoy excellent relationships with other casinos.”
Star is owed $146.1 million by VIPs, with $92.9 million overdue, according to recent accounts. High rollers can play up to $500,000 a hand and are expected to increase in number on the Gold Coast due to Star’s luxury upgrades.