Casino operator Marina Bay Sands (developed by Las Vegas Sands) is taking five high-rolling gamblers to court to recover $7.5 million they allegedly owe. (The amounts are in Singapore dollars-77 cents, US)
Malaysians Por Boon Chuan and Chock Kok Sui are accused of owing the casino guys $518,436 and $1.9 million, respectively.
Chinese national Zhang Dechun, who is based in Macau, allegedly owes $1.94 million, and Indonesian Husni Muchtar $920,500.
Singapore-based Japanese Takami Shinichi allegedly owes $2 million. He is currently the only one fighting the case.
High Court pre-trial conferences will be held for each of the cases in the next two months.
According to court papers filed against each of the alleged debtors over the past two months, all five were said to have been premium players who became members of the Paiza, an exclusive club for valued patrons.
The gamblers had given the casino signed blank checks in case they failed to make good on their debts. This way the casino could fill in whatever amount was owed.
Guess what? The checks for the $7.5 million owed by the gamblers all bounced, including the one in China.
Por Boon Chuan applied for a $1 million line of credit last year, but was given only $500,000.
Por Boon Chuan failed to pay back the $500,000 worth of chips even after the 90-day grace period he was given, after which an enormous 12% cent interest rate kicked in. Casinos play for keeps. Shouldn’t the guy change his name to Poor Boon Chuan?
Por Boon Chuan failed to respond to letters from the law firm, Harry Elias Partnership, acting for the casino, and another check from Por Boon Chuan also bounced. With interest Por Boon Chuan now owes $518,436.
Chock Kok Sui, 53, an investment company director, applied for a $5 million credit line and was granted a paltry $1 million in chips in June last year. He raised this to $1.9 million and was issued another $900,000 in chips by the casino. These casino guys really know how to rope-a-dope. They are making Chop Suey out of Chock Kok Sui who allegedly owes the casino guys $1.855 million.
The Chinese guy Zhang Dechun, 49, applied for and got $2 million in credit when he visited the casino in November last year. He is now said to owe the casino $1.943 million.
The Singapore Japanese mark, Takami Shinichi, allegedly placed $300,000 with the casino to qualify as a premium player in June last year. He allegedly started with a $200,000 credit line, which increased to $1 million in February this year. He sought an increase to $2 million, which was approved by the casino. The casino claims Takami (should be Take-Me) has not settled an outstanding debt of $1,999,324.
Take-Me’s lawyer Sunil Singh Panoo is seeking to void the suit on some sort of technicality. Lots of luck!
Casinos are not impressed with technicalities. People who owe casinos money usually don’t do too well.
According to the Singapore Straits Times, “Casinos haul players to court usually only as a last resort.”
Huh? Don’t they show movies about Vegas in Singapore?
Really? Court is the last resort? Maybe, in Singapore, they don’t break legs, etc., but the future does not look good for Chop Suey, Take-Me, Poor Boon Chuan, and the Chinese guy who hopes to live long enough to see Macau again.
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