In a landmark ruling by the Supreme Court in Brisbane, the high-stakes world of gambling has once again made headlines as Singaporean high roller Yew Choy Wong has been ordered to pay a staggering AU$38m (US$25.3m) to Star Entertainment Queensland for an outstanding gambling debt. The ruling, delivered by Justice Melanie Hindman, not only mandates Dr. Wong to settle his debt but also includes an additional order for him to cover The Star’s legal costs and the accumulating interest, which has been piling up since September 2018.
The saga began during a five-day gambling spree in 2018 at the Star Gold Coast casino, where Dr. Wong found himself on the wrong side of luck and lost a jaw-dropping AU$47.3m. However, rather than settling his dues like a responsible gambler, Dr. Wong hightailed it out of the country without taking care of his financial obligations, leaving The Star to pursue legal action to recoup their losses.
According to Justice Melanie Hindman, the situation with Dr. Wong is “not unusual” for high rollers, who often exhibit risky behavior and evade their debts. The casino initially attempted to recover the massive sum by utilizing a cheque Dr. Wong had given them during a previous visit to Star Casino in Sydney. Unfortunately for The Star, the cheque bounced when Dr. Wong instructed his bank to stop the payments, adding another layer of complexity to the already convoluted case.
Things took a contentious turn in October 2018 when Star demanded a hefty $43.2m from Dr. Wong. However, the high roller decided to contest the debt, claiming that there was a verbal agreement in place following a dispute over the way his baccarat cards were being dealt. Dr. Wong alleged that Star’s COO, Paul Arbuckle, had agreed to waive his losses up to a certain date, but Mr. Arbuckle vehemently denied the existence of any such agreement.
In a surprising twist, Justice Hindman sided with The Star, ruling that there was no concrete evidence to support Dr. Wong’s claims of a debt waiver agreement. Despite Dr. Wong’s assertion that a letter from the casino acknowledging a mistake in adhering to his gaming preferences implied an agreement, the court found that the letter did not contain any mention of debt forgiveness. As a result, Star Entertainment emerged victorious in this legal battle.
Dr. Wong’s eye-watering debt, coupled with interest calculated at a staggering $8,819 per day for a total of 2,174 days, has now ballooned to over $38m, leaving the once high-flying high roller in a precarious financial predicament. The ruling serves as a stark reminder of the risks and consequences associated with high-stakes gambling and the importance of honoring one’s financial obligations in the world of casinos and gaming.
