Home / World News / Casino fights billionaire over $43m loss

Casino fights billionaire over $43m loss

A high-rolling Singapore billionaire being sued over an eye-watering $43 million lost over a week at the baccarat tables has failed in his legal bid to have the case thrown out of court.

VIP Dr Wong Yew Choy lost a staggering $43, 209, 853.34 during his week-long losing streak playing cards at the luxury Star Gold Coast in July 2018.

The billionaire staked his gambling spree with two blank cheques drawn, only to dishonour them when the Star attempted to settle his outstanding debts.

After losing an international bid to pursue Dr Wong over the debt in the Singapore courts, Star Casino is now pursuing the rich lister through the Queensland Supreme Court.

Dr Wong appealed the bid to recover the $43 million, accusing Star of “hedging its bets” after its legal challenge failed in the international court.

“Star’s conduct has occasioned unjustifiable oppression to him, and it has brought the administration of justice into disrepute,” Dr Won’g legal team argued.

“He is again forced to confront the same allegations in a different proceeding … which constitutes the vexation inherent in Star’s conduct.

“This is a case where Star has engaged in ‘staged conduct’ of litigation using this court’s processes to ‘hedge its bets’.”

The Queensland Court of Appeal on Friday dismissed Dr Wong’s appeal.

“Dr Wong should not have considered that his dispute with Star was at an end once the Singapore proceeding was dismissed,” the court ruled.

“The judge was correct to hold that this proceeding was not an abuse of process and to dismiss Dr Won’s application.”

In 2019, the Singapore court dismissed a lawsuit filed against Wong, citing legislation prohibiting the government from assisting foreign companies seeking to recover debts related to overseas gambling.

The Appeal Court awarded costs against Dr Wong with the case expected to continue next year.

About brandsauthority

Check Also

US says Hive ransomware gang taken down

The United States Justice Department says a ransomware gang called Hive, which had targeted more …

%d bloggers like this: