Asian high roller bounces $5m cheque at Star Gold Coast casino

A Queensland casino is suing a high-roller after a $5m cheque – exchanged for gambling vouchers – bounced. A fraction of the money has been repaid, and now a lawsuit is under way to recover the rest.

A Queensland casino is chasing an Asian high rolling gambler after his $5m cheque allegedly bounced.

The Star Gold Coast is suing Singaporean businessman Khong Yoong Mark Yong, 54, in the Supreme Court in Brisbane claiming that Yong gave the $5m cheque dated February 1, 2018 to secure $5m in gambling vouchers as part of the casino’s cheque cashing facility.

The casino on Broadbeach Island, claims that when staff went to present Mr Yong’s cheque on March 9, 2018 at the National Australia Bank branch in Sydney, it bounced on April 13.

The Star is only suing Mr Yong for repayment of $3.86m because he repaid $1.19m between May 2018 and January 9, 2019, the claim states.

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Mr Yong lists himself as a director of mining company Damo Resources (Singapore) Pte Ltd, which mines gold and other metals in Mongolia, China and Zimbabwe.

The Star Gold Coast is hoping to recover the $3.86m they say is still owing.

He says he has a $3m gambling limit with Crown casino in Melbourne and a limit of two million pounds with Aspinalls in London, according to his cheque cashing facility application form filed in court.

He initially took out a $3m cheque cashing facility in November 2017 but two months later he made a written request to increase the limit to $5m.

The casino slapped Mr Yong with a letter of demand requesting full payment of the $3.8m in November last year but Mr Yong has failed to pay, the claim states.

The Star applied to the Supreme Court registrar seeking a default judgment forcing Mr Yong to pay, but the court declined to make the order on September 16.

Mr Yong has been served with the claim but has not yet filed a defence.

The Star and other casinos always risk losing large amounts of cash when they agree to cash cheques written by their international high rollers immediately, and don't bank the cheques for a month.

Originally published as Asian high roller bounces $5m cheque at Star Gold Coast casino