Singapore Casinos Find Collecting Debts from High Rollers Difficult

Date: March 16, 2020 | Category: Online Casino Real Money No Deposit Australia

Singapore Casinos Find Collecting Debts from High Rollers Difficult

Lending money to big style gamblers is simple for Singapore casinos, but collecting on those debts is time-consuming and difficult. The amount of VIP clients that are in debt to gambling enterprises is becoming and increasing more of an issue.

VIP casino clients, like Asia table tennis gold medalist Kong Linghui, aren’t paying debts that are back gambling Singapore casinos, forcing operators to sue to reclaim their money.

Bloomberg stated that in 2013, only two clients were sued to retrieve money owed, but by a year later, that number had jumped to 49. Most big shots use the solutions of junket operators, who act as facilitators for casinos, guaranteeing an amount that is certain of from China’s wealthy gamblers.

The problem is there are only three such businesses in Singapore, rather than approximately 200 in Macau, another spot that is popular Chinese citizens.

When clients into the Lion City don’t settle their records, it usually falls on the two casinos, Marina Bay Sands and Resorts World Sentosa, to try to recover the cash.

Financial obligation Collecting a Challenge

Further complicating the issue are China’s ordinances on lawsuits. Singapore doesn’t have an enforcement that is reciprocal of using the country, except for with Hong Kong. Petitioners must sue the defendant in their own country, then try to obtain a judgment in China.

Gambling enterprises will also be hesitant to pursue claims as a resu

Read More

Categories