A Singaporean businessman, Wong Yew Choy, has been ordered by an Australian court to pay over AU$38 million ($25.3 million) in gambling debts to The Star Gold Coast casino.
The ruling, issued by Judge Melanie Hindman from Brisbane’s Supreme Court, also includes payment of legal fees and interest dating back to 2018.
In July 2018, Wong accumulated a AU$47 million ($31.3 million) loss playing baccarat at The Star Gold Coast. After rebates and other deductions, the amount was reduced to AU$43.2 million ($28.8 million). Wong left Australia without paying, which the court noted wasn’t unusual for high rollers.
The casino tried to cash a blank check provided by Wong during a previous visit to The Star Sydney, but it bounced after Wong instructed his bank not to honor it. Wong refused to pay, claiming he had a verbal agreement with The Star’s COO, Paul Arbuckle, to cover losses up to that point. Arbuckle denied any such agreement.
After legal proceedings, the court found no evidence supporting Wong’s claim, and ruled in favor of the casino, reducing the final amount owed to AU$38.6 million ($25.7 million).
The ruling comes as a welcome relief for The Star, which is working on restructuring its finances amongst the fallout from the Bell Two inquiry into its suitability to hold a casino license in Sydney. Trading of the company’s stocks on the Australian Securities Exchange has been suspended, pending the release of the group’s results.
