Marina Bay Sands has won what could be a precedent-setting victory over a gambler in Singapore’s first casino debt collection case.
A report in The Straits Times says the High Court ruling means the megaresort can recover S$240,000 (US$188,200) extended as credit to a player who challenged the 3-year-old debt as unrecoverable, claiming he was not a “premium player” under the law and that MBS had violated regulations in giving him credit.
Judge Lai Siu Chiu disagreed and ordered 33-year-old Lester Ong Boon Lin to pay back the money, plus interest at 12% a year going back to August 2010. He is also liable for MBS’ legal costs, which the court will determine later.
Singapore’s stringent rules on the extension of credit require that players deposit at least $100,000 with the casino to be considered eligible to draw markers as “premium players”. Written agreements are required spelling out conditions such as credit limit and interest rates, and all dealings must be recorded for official inspection, including chip amounts issued on credit and when the loan or loans are repaid.
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