Singapore High Roller Denies Lying About $30M Debt

Posted on: August 30, 2024, 07:24h. 

Last updated on: August 30, 2024, 09:33h.

Philip Conneller @casinoorgphilc Read More
Expertise: Gaming Business, Regulation, Tribal Gaming.

A high-rolling Singaporean has denied “lying” in court about an AU$40 million line of credit at the Star Gold Coast in Queensland, Australia.

Star Gold Coast, Wong Yew Choy, baccarat, gambling debt, Queensland Supreme Court
Dr. Wong Yew Choy, pictured center, at English soccer team West Bromwich Albion’s Hawthorn Stadium in 2004. At the time, he was a director of Asian-facing sportsbook SBOBet. (Image: Adam Fradgley/AMA)

The casino is suing Dr. Yew Choy Wong for an AU$43 million (US$30 million) gambling debt, which it says he ran up during a weeklong gambling spree six years ago.

Wong arrived at the Gold Coast venue in July 2018 on one of the casino’s private jets to play a baccarat tournament, according to the complaint. When he left on August 2, he was $43 million in the hole.

Blank Check

The Star claims Wong was given access to a $40 million check-cashing facility on the day he arrived. He authorized the casino to use a blank check he had given to sister casino, Star Sydney, a year earlier to pay the debt on his departure, per the lawsuit. The check bounced.

Wong claims the credit agreement was blank when he signed it and denies authorizing the casino to use the check to collect the debt.

The defendant says he decided to stop gambling on July 28 after becoming infuriated by dealer mistakes, but VIP hosts persuaded him to continue.

The high roller claims he made it clear that he would not pay further losses if the mistakes continued, which they did, he says.

Wong testified Wednesday that he instructed his private banker to ensure the check would bounce because it was too old.

‘Unjustified Oppression’

The Star initially sued Wong in Singapore but was unsuccessful because the country’s Civil Law Act prohibits the government from assisting foreign companies seeking to recoup debts related to overseas gambling.

Wong argued the Singapore ruling should stand, adding that Star’s efforts to pursue him through the Australian courts system constituted “unjustified oppression.”

But in April 2021, a judge in the Supreme Court of Queensland permitted the case to proceed, describing it as a “relatively straightforward” claim for damages that should be determined on its merits.

Wong is a former director of Isle of Man-based Celton Manx, which owns SBOBET, the first Asian-facing sportsbook to sponsor an English Premier League team.

A spokesperson for Celton Manx told?Casino.org?that Wong resigned from the position in March 2019 soon after the company became aware of the dispute.