Lending money to big time gamblers is easy for Singapore casinos, but collecting on those debts is time consuming and difficult. VIP clients who are in debt to casinos is increasing and becoming more of an issue.
VIP casino clients, like China table tennis gold medalist, Kong Linghui, are not paying back gambling debts to Singapore casinos, forcing them to sue to reclaim the money. (Image: BestChinanews.com)
Bloomberg reported that in 2013 two customers were sued to retrieve money owed, but in 2014 that number jumped to 49. Most big shots use the services of junket operators, who act as facilitators for casinos, guaranteeing a certain amount of revenue from Chinas wealthy gamblers.
The problem is there are only three such businesses in Sing…
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