Benchmark case for casino
Wynn Macau has prevailed in its legal action against a Malaysian gambler who owed the casino HK$33 million (US$4.21 million). The January 18 ruling was handed down by a judge in Kuala Lumpur, even though that country does not recognize wagering contracts.
According to Reuters, Wynn attorney Vincent Law said it’s the first time a casino has been allowed to recover gambling debts in Malaysia. In 2017, Wynn brought the lawsuit against a fund manager named Paul Poh Yang Hong. Poh took a line of credit for HK$40 million from Wynn and had paid down to about HK$33 million before Wynn sued him. Poh claimed he was unaware he had signed a credit agreement and that he did not owe the casino HK$40 million.
He must now pay the outstanding debt plus interest, ruled Judge S. Nantha Balan. Poh’s lawyer declined to comment and did not indicate if his client would appeal the decision.
“If there is no appeal, I believe this judgment today will be the law in Malaysia for the foreseeable future,” Law said. “It is a good sign for the whole gaming industry.”
