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How can this person have not self-respect sue the casino when he lost money - cos the casino over-extended his credit. Will he sue if he had won?
Treat the loss as donation to the public. He may not be so pok kai.
Local businessman loses $26m at RWS casino over 3 days
by Conrad Raj
05:55 AM Aug 18, 2010
Today Exclusive
SINGAPORE - In what is said to be one of the biggest losses yet at a Singapore casino, a local businessman lost $26.3 million over three days of gambling in June. This included a staggering $18 million that he burned in one day alone, playing baccarat - a card game - at $400,000 a hand.
According to documents that Today has obtained, the businessman's tale of woe began in March, just weeks after Resorts World Sentosa (RWS) opened, when he was granted a credit line of $500,000 by the casino.
The Singaporean, who is consulting a top local law firm about possible legal action against the casino, claimed that the casino at no time performed any background checks on his credit-worthiness or his financial capacity. He had simply filled in an application form, deposited $100,000 and handed over a signed blank cheque, he claimed.
Subsequently, in April, the casino increased his credit line to $2 million, he told his lawyers. In his 50s, the businessman is a managing director of a multi-million-dollar company.
Over the weeks, he reportedly won or lost several hundred thousand dollars each time he visited the casino, with his losses running as high as $6 million in the course of a single session. To draw on his credit line, he said, he signed a form and was given the requisite amount of chips.
In early June, he made his biggest loss of $18 million yet in one session. Two days later, he went back to the casino and recouped some $3.7 million - but then two days after, he lost a further $11 million.
At one point during this third session when his losses crossed the $4-million mark, so the businessman claimed, his girlfriend started crying and pleaded with one of RWS' senior officers to stop providing him with more chips on credit.
The same officer, he claimed, had repeatedly assured him over the course of the gambling sessions that the casino was prepared to extend him further credit, even though his limit had long since been exceeded.
Of his $26.3 million loss, the businessman repaid $10 million almost immediately.
The businessman claims to have then met with RWS chief executive Tan Yee Teck, who offered him a "rolling figure" - which amounts to a discount - of $3.3 million.
According to the legal documents, dated July 22, the gambler owed RWS some $13 million at that point in time. It is unknown if the debt has since been settled.
When contacted, an RWS spokesperson said the group does not comment on its customers.
The businessman's lawyers have advised him to explore if an amicable resolution can be reached with the casino. But they also think he may have a case of negligence, breach of contract or breach of statutory duty against the casino.
Under the Casino Control (Credit) Regulations, an operator who enters into a credit agreement with a patron should, apart from specifying a credit limit, develop and implement criteria to assess the patron's creditworthiness. The operator must also have approval procedures for any increase in the credit limit.
In the lawyers' view, by substantially exceeding their client's earlier limits - by more than 60 times the original limit of $500,000, and 15 times the April limit of $2 million within a few hours to enable him to continue gambling "RWS had encouraged irresponsible gambling and had breached the duty of care owed to" the businessman.
RWS' conduct of continuing to pile on credit effectively rendered the concept of a credit limit meaningless, the lawyers argued. This was more so as the person in question was not in the proper frame of mind to decide on the increases, they said.
In other countries, there have been several instances of patrons suing casinos for their losses, cases which the courts have dismissed. Courts in other jurisdictions have noted among other things, that the casino was not bound to protect a gambler from his desire to wager his wealth.
Despite this, the Senior Counsel from the local law firm recommended writing to RWS. "In the letter, the issues concerning RWS' failure to promote responsible gambling ... can be raised. Hopefully, this may encourage RWS to offer a haircut that would be acceptable to you ..." he wrote.
Genting Singapore's turned in a sterling net profit of $397 million for the quarter ended June 30, compared to a loss of $50.7 million a year ago. Revenues rose to $979 million from $120 million a year ago.
According to DMG Research, at the current rate, Singapore is already the second largest casino market in Asia after Macau, and could overtake the Las Vegas strip as the second largest casino market in the world after Macau in the next two to three years. The firm estimates that the two casinos here rake in over $16 million a day.
A MALE ONLY MERMAiD POOL SPA CASiNO will be even BETTER
A FEMALE ONLY MERMAN POOL SPA CASiNO as WELL
嫩牛吃老草
sUckling bUlls for Yellow Grasses ? ? ? ?
wah...even RWS knows how to use 美男计 to make $$$...if the women concentrate on the handsome croupiers, how can they concentrate on the games...really jia lat for them!
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| RWS casino opens up "Ladies Club" |
| 15 Jul 2010 |
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By Hoe Yeen Nie
Resorts World Sentosa has opened up a special area in its gaming floor just for women, the first of its kind in Southeast Asia.
In the centre of the vast gaming hall, there's a section exclusively for the ladies.
It's a small area - 12 tables catering to three different games, all staffed by male croupiers chosen for their service with a smile.
Special drinks are served to welcome Lady Luck, and there are freebies like restaurant vouchers.
And some like the concept.
"It's better. At the end of the day we don't have to squeeze with the men. It's not a good feeling, like when they squeeze past you to get their winnings."
But it may be hard to avoid the squeeze, at least for now.
Within minutes of the ribbon-cutting ceremony at precisely 3.28pm on Thursday, all 12 tables were packed, with a long line forming outside.
About 40% of the casino's patrons are women, so it makes marketing sense to find out what they like.
Resorts World's Senior Vice-President for Gaming Services, Jay Lee elaborates.
"Even when they offer drinks, when we offer tea or something like that. It's about what sort of tea that you like, is it this sort of tea or that sort of tea. Just small little things like that make a difference."
The casino also has exclusive packages for high rollers, and a special "Orchid Club" reserved for Singaporeans and Permanent Residents.
As to whether such offerings might fuel gambling addictions, counsellors are not too worried.
Charles Lee from the Tanjong Pagar Family Service Centre explains.
"Final responsibility is on the person. So, if a person wants to stop and is in recovery, then they ought to know the places where they should not be going in."
Mr Lee says more female gamblers are seeking help for their problems.
Although numbers remain small, since January, he's seen as many female addicts as the whole of 2009. |
did u play table games? i suppose u can control the game...
niuyear ( Date: 01-Jun-2010 10:23) Posted:
So far, went RWS twice, MBS once. Dont wanna apply VIP cos this will make it tempting to go very often. :)
Overall, still lost to the casino. but, gap narrowed down cos of recent winnings at slot machines.
I think if playing at slot machines, MBS has the luxury of letting customers to hop from machine to machine , unlike RWS, it has limited machines and it is always packed with people or people having to queue up to play.
Never played at one machine for too long , i supppose. |
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So far, went RWS twice, MBS once. Dont wanna apply VIP cos this will make it tempting to go very often. :)
Overall, still lost to the casino. but, gap narrowed down cos of recent winnings at slot machines.
I think if playing at slot machines, MBS has the luxury of letting customers to hop from machine to machine , unlike RWS, it has limited machines and it is always packed with people or people having to queue up to play.
Never played at one machine for too long , i supppose.
so far as of now how much have u won? did u buy the $2000 annual membership access?
niuyear ( Date: 01-Jun-2010 09:50) Posted:
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I dont mind! :)
But of late, luck seems to be with me at the Slot Machines at MBS, and this makes me worry for i will go back for more. Not much luck at the tables (lost to singapore stud) though.
Short play only win $2000 plus at an investment of $50 only. Just pull the level and sometimes press the spin on the screen few times, got bouns and it kept on coming back after few pulls.......damn lucky.
tchoonw ( Date: 31-May-2010 17:22) Posted:
| how wonderful if the lambo is credited into your card |
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I dont mind! :)
But of late, luck seems to be with me at the Slot Machines at MBS, and this makes me worry for i will go back for more. Not much luck at the tables (lost to singapore stud) though.
Short play only win $2000 plus at an investment of $50 only. Just pull the level and sometimes press the spin on the screen few times, got bouns and it kept on coming back after few pulls.......damn lucky.
tchoonw ( Date: 31-May-2010 17:22) Posted:
how wonderful if the lambo is credited into your card!
niuyear ( Date: 31-May-2010 16:55) Posted:
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So lucky.
Once i was at slot machine, dont know what i did, i saw a message on the machine screen :
"you are given a bonus of $380....and , the money credited into my card! " amazing! |
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how wonderful if the lambo is credited into your card!
niuyear ( Date: 31-May-2010 16:55) Posted:
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So lucky.
Once i was at slot machine, dont know what i did, i saw a message on the machine screen :
"you are given a bonus of $380....and , the money credited into my card! " amazing!
Hulumas ( Date: 17-May-2010 20:58) Posted:
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So lucky.
Once i was at slot machine, dont know what i did, i saw a message on the machine screen :
"you are given a bonus of $380....and , the money credited into my card! " amazing!
Hulumas ( Date: 17-May-2010 20:58) Posted:
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CONGRATULATIONS!
tchoonw ( Date: 17-May-2010 17:28) Posted:
| 2 punters won a Lambo each at RWS casino last week.
The duo, who were playing the slot machine game Mystery Jackpot, were among those who have won over $70m in the 1st 3 months since the casino opened, RWS said.
Each car is worth $850,000 and does not come with COE, but both winners opted for $650,000 in cash instead.
Sgporean Rina Sim, 51, had gone to the casino with her parents, aged 86 and 75, on May 7.
While her parents played at the vip tables on the 2nd floor, she tried her luck at the slot machines in the smoking area, making $5 bets.
The electrical company manager was down to her last $50 when she hit the jackpot.
......
Ms Sim, who drives a month-old Nissan Teana, opted for cash becos she felt an expensive sports car would be difficult to maintain.
The single woman, who lives alone in a condo, will use the money to pay off her housing loans. she will also give some of it to her parents and donate a few thousand dollars to the old folks' home.
She said she gave the 10 employees under her $100 each.
.......
The other winner is a Sgporean PR in her 40s.
The Korean woman is a regular punter at RWS.
....... |
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Big dollar bills
At RWS, some winners have taken up the casino's offer of a free night's stay at one of its hotels or to be driven home.
He said: "Usually, the bigger the amount, the more secretive the winners are. Punters from the West tend to be more expressive about their joy at winning."
The $70m paid out by RWS so far are from its gambling tables and slot machines.
RWS did not say how much was lost by punters at its casino.
The Straits Times reported that RWS made a pre-tax profit of about $110m in the first three months.
The other car winner is a Singaporean permanent resident in her 40s.
The Korean woman is a regular punter at RWS. The biggest jackpot winner at RWS so far is a Caucasian man, who won over $1.6m last month.
But Mr Charles Lee, senior counsellor at Tanjong Pagar Family Service Centre, cautioned: "For every one winner, there might be thousands who have lost."
He explained that those who make a windfall at the gambling tables tend to fall into two categories.
They may be social gamblers who might be able to stop and keep their winnings. But there are also pathological gamblers, addicted to the high of gambling.
They might lose their winnings through future bets.
He warned: "Winning might give people certain beliefs about gambling, such as how they are good in the game or that they are naturally lucky."
His advice to winners is to stop gambling because the odds are always against the gambler.
He said: "Winners should talk to financial experts and invest the money properly. Or they can consult family members about what to do.
"Anything but gamble again."
CONGRATULATIONS!
tchoonw ( Date: 17-May-2010 17:28) Posted:
| 2 punters won a Lambo each at RWS casino last week.
The duo, who were playing the slot machine game Mystery Jackpot, were among those who have won over $70m in the 1st 3 months since the casino opened, RWS said.
Each car is worth $850,000 and does not come with COE, but both winners opted for $650,000 in cash instead.
Sgporean Rina Sim, 51, had gone to the casino with her parents, aged 86 and 75, on May 7.
While her parents played at the vip tables on the 2nd floor, she tried her luck at the slot machines in the smoking area, making $5 bets.
The electrical company manager was down to her last $50 when she hit the jackpot.
......
Ms Sim, who drives a month-old Nissan Teana, opted for cash becos she felt an expensive sports car would be difficult to maintain.
The single woman, who lives alone in a condo, will use the money to pay off her housing loans. she will also give some of it to her parents and donate a few thousand dollars to the old folks' home.
She said she gave the 10 employees under her $100 each.
.......
The other winner is a Sgporean PR in her 40s.
The Korean woman is a regular punter at RWS.
....... |
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so the big jackpot is at the big bet mini lor. those 20 cent one dun have even 50cent also dun have so must bring alot of money for jackpot haha n them three dunno lost how much to the genting groupliao
Punters are so lucky...
hehehe...
2 punters won a Lambo each at RWS casino last week.
The duo, who were playing the slot machine game Mystery Jackpot, were among those who have won over $70m in the 1st 3 months since the casino opened, RWS said.
Each car is worth $850,000 and does not come with COE, but both winners opted for $650,000 in cash instead.
Sgporean Rina Sim, 51, had gone to the casino with her parents, aged 86 and 75, on May 7.
While her parents played at the vip tables on the 2nd floor, she tried her luck at the slot machines in the smoking area, making $5 bets.
The electrical company manager was down to her last $50 when she hit the jackpot.
......
Ms Sim, who drives a month-old Nissan Teana, opted for cash becos she felt an expensive sports car would be difficult to maintain.
The single woman, who lives alone in a condo, will use the money to pay off her housing loans. she will also give some of it to her parents and donate a few thousand dollars to the old folks' home.
She said she gave the 10 employees under her $100 each.
.......
The other winner is a Sgporean PR in her 40s.
The Korean woman is a regular punter at RWS.
.......
