Recently a Malaysian court ruled that a gambler that took out $5.1 million in credit from the Wynn Macau owes the casino the $4.2 million following a legal challenge.
Paul Poh Yang Hong, a fund manager from Malaysia took out a credit line from the casino when he was visiting the resort located just off the shore from Hong Kong. The debtor alleged that the credit line was a wagering contract, which is not enforceable in Malaysia, but Wynn lawyers contended that the loan was indeed a credit line.
Judge S. Nantha Balan heard the argument, during which Hong said that he never was aware that he entered a credit agreement with Wynn. The judge didn't buy it, and ruled that he owes the casino $4.2 million plus interest. It's the first time in Malaysia's history that a casino has been able to chase down a debt in court, as gambling itself is largely prohibited in the country.
Speaking about the case Wynn legal counsel Vincent Law said, "If there is no appeal, I believe this judgment today will be the law in Malaysia for the foreseeable future… It is a good sign for the whole gaming industry."
Huh, I didn't know that some casinos give a loan to players, who probably are a VIP players.
I went to Wynn Macau a few times before, the facility was very nice and cozy.
But, the minimum bets in most tables were too high to play for me.
Well, for once I'm on the house's side.
I in fact though the guy has won that trial when he's about to pay just $4.2 from the $5.1 he borrowed but obviously he decided he could got away with this as it's probably an existing practice out there..not this time apparently..