Singapore VIP Dr Yew Choy Wong fights Star casino High Court case to recover $43m baccarat debt
A Singapore high roller who racked up $43 million in baccarat losses at Star Gold Coast plans to fight the casino’s pursuit of the whopping debt in court.
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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 five-day 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.
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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 $43.2m in losses after about 1500 hands.
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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.
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During his visit, he was given $40m in chips initially and then a further $10m 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”.
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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 Strait 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 $146.1m by VIPs, with $92.9m 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.
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