Baccarat playing billionaire fights casino over alleged $42 million losing streak
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 toĀ dishonour them when the Star attempted to settle his outstanding debts.
After losing an international bid to pursue Wong over the debt in the Singapore courts, Star Casino is now pursuing the rich lister through the Queensland Supreme Court.
Wong appealed the bid to recover the $43 million, accusing Star of āhedging its betsā after its legal challenge failed in the international court.
āStarās conduct has occasioned unjustifiable oppression to him, and it has brought the administration of justice into disrepute,ā Wongās legal team argued.
āHe is again forced to confront the same allegations in a different proceeding ā¦Ā which constitutes the vexation inherent in Starās conduct.
āThis is a case where Star has engaged in āstaged conductā of litigation using this courtās processes to āhedge its betsā.ā
The Queensland Court of Appeal on Friday dismissed Dr Wongās appeal.
āDr Wong should not have considered that his dispute with Star was at an end once the Singapore proceeding was dismissed,ā the court ruled.
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āThe judge was correct to hold that this proceeding was not an abuse of process and to dismiss Dr Wongās application.ā
In 2019, the Singapore court dismissed a lawsuit filed against Wong, citing legislationĀ prohibiting the government from assisting foreign companies seeking to recover debts related to overseas gambling.
The Appeal Court awarded costs against Wong with the case expected to continue next year.
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