This story was published more than 1 year ago.
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."