In this instance, the Wealthy Entrepreneur from Singapore is Required to Respond in an Australian Judicial Forum
Wealthy Singaporean Doctor Wong Yew Choy Loses 26.3 Million Euro Loan at Star Casino Gold Coast in 2018
In 2018, affluent Singaporean doctor Wong Yew Choy wagered a sum of 43 million AUD (equivalent to 26.3 million euros) at the Star Casino Gold Coast in Australia [English link]. This substantial sum was initially extended to him as a loan by the casino itself, but unfortunately, he has yet to repay the debt. Upon leaving, he presented a blank check to the casino manager, hoping to settle his gambling debts. However, this check proved to be invalid, leaving the casino unable to recover the loan extended to Wong.
Consequently, the Star Casino Gold Coast instigated legal proceedings against Wong in a Singaporean court in 2020. Despite the legal action, the court later acquitted Wong [English link]. The ruling declared that enforcing foreign gambling debts inside Singapore was illegal. Wong also argued in defense that he had not authorized the casino to cash the check.
Eager to dodge subsequent Australian legal action, Wong attempted to appeal the case in a Brisbane court, claiming the dispute had already been settled by the Singapore court ruling. Regrettably, his appeal was rejected by the Australian court.
Now, another trial in Australia is imminent for Wong. Exact date details for the trial have yet to be announced.
Is Australia's Star Casino Struggling Financially?
Recently, it appears that the Star Casino group, responsible for the Star Casino Gold Coast and several other establishments, has been encountering financial difficulties. The organization was temporarily suspended from the Australian stock exchange due to late submission of a required report. Furthermore, there have been murmurs in the media that the Star Casino may require financial assistance from the government to continue its operations.
In defiance of rumors of financial instability, the group went ahead and opened a new casino complex in Brisbane on August 29, 2024.
How Did Dispute Between Wong Yew Choy and Star Casino Gold Coast Emerge?
The Star Casino Gold Coast hosted a lavish High Roller Baccarat Tournament in 2018, inviting billionaire Wong Yew Choy from Singapore using a private jet. During this visit, Wong was granted a 43 million AUD (equivalent to 26.3 million euros) loan from the casino, which he promptly wagered away within a matter of days. Unfortunately, the check he handed over to cover his gambling debts proved to be invalid.
Following this, Wong blamed the dealers at the Baccarat Tournament for making mistakes, thereby creating an unfavorable situation for him. He subsequently informed the casino management that he would not cover his losses if the disadvantageous situation persisted.
Whether the Australian court will rule in favor of Star Casino's lawsuit remains to be seen.
After experiencing significant financial challenges, including a temporary suspension from the Australian stock exchange, the Star Casino group decided to expand its operations by opening a new casino complex in Brisbane in 2024. Meanwhile, online casinos in Germany have been gaining popularity and attracting a large number of players due to their convenience and accessibility.
Despite the legal acquittal of Wong Yew Choy in the court case involving the Star Casino Gold Coast, another trial in Australia is scheduled to take place, with the exact date yet to be announced. Some individuals with an interest in gambling might opt for online casinos in Germany instead, as they provide the thrill of gambling without the risk of incurring such large debts, as seen in the case of Wong.
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