The Queensland Supreme Court has ruled that a high-rolling Singaporean billionaire with ties to the online betting industry, Dr. Wong Yew Choy, must pay the Star Gold Coast a gambling debt of AU$38.7 million (US$25.7 million). This decision comes after Dr. Wong accumulated a debt of AU$43.2 million (US$29 million) during a week-long baccarat spree at the casino between June and August 2018, facilitated by an AU$40 million check-cashing agreement.
Lawyers representing the Star argued that Wong had authorized the casino to use a blank check he had previously given to its sister establishment, the Star Sydney, on an earlier visit to cover his losses. Upon Wong’s return to Singapore, the check bounced. Wong, a former director of Isle of Man-based Celton Manx, which owns SBOBET, the first Asian-facing sportsbook to sponsor an English Premier League team, denied these claims. He contended that the check-cashing agreement was blank when he signed it and insisted that he should not be liable for the debt due to multiple mistakes made by the dealers, about which he complained on four occasions.
The casino acknowledged that three of these complaints were justified and its chief operating officer, Paul Arbuckle, issued a letter of apology to Wong on July 30, 2018. However, the letter did not address the issue of Wong’s outstanding gambling debt.
Initially, the Star attempted to sue Wong in Singapore, but this was unsuccessful due to the nation’s Civil Law Act, which prevents the government from aiding foreign businesses in recovering debts related to overseas gambling. Wong argued that the Singapore ruling should be upheld and that the Star’s continued litigation efforts in Australia amounted to “unjustified oppression.”
In April 2021, the Queensland Supreme Court allowed the case to move forward, characterizing it as a “relatively straightforward” claim that warranted a merit-based decision. On Monday, Justice Melanie Hindman ruled in favor of the Star, stating that the casino had clearly presented its case for debt recovery while Wong had not provided a viable defense.
This lawsuit is one of the largest debt recovery cases in Australian history and comes at a critical time for Star Entertainment. Just weeks after launching its AU$3.6 billion (US$2.4 billion) project at Queens Wharf in Brisbane, the company finds itself in severe financial difficulty and has sought short-term tax relief from the Queensland government.
To address its financial instability, Star announced plans to sell its leasehold interest in the Brisbane Treasury Building, the location of its former Brisbane casino, for AU$67.5 million (US$44.9 million). Additionally, the company is reportedly in need of a AU$300 million (US$201 million) cash infusion to maintain operations at Queen’s Wharf.
