Lending money to big style gamblers is easy for Singapore gambling enterprises, but gathering on those debts is time-consuming and difficult. How many VIP clients who are in debt to casinos is becoming and increasing more of an issue.
VIP casino customers, like China table tennis gold medalist Kong Linghui, are not paying back gambling debts to Singapore casinos, forcing operators to sue to reclaim their money.
Bloomberg stated that in 2013, just two customers had been sued to retrieve cash owed, but by a year later, that number had jumped to 49. Most big shots utilize the services of junket operators, who act as facilitators for casinos, guaranteeing an amount that is certain of from China’s rich gamblers.
The issue is there are merely three such businesses in Singapore, instead of approximately 200 in Macau, another spot that is popular Chinese citizens.
When customers within the Lion City don’t settle their accounts, it usually falls on the two casinos, Marina Bay Sands and Resorts World Sentosa, to try and recover the money.
Debt Collecting a Challenge
Further complicating the presssing problem are China’s ordinances on lawsuits. Singapore doesn’t have a reciprocal enforcement of judgments aided by the country, except for with Hong Kong. Petitioners must sue the defendant in their coundecide to try that is own try to acquire a judgment in China.
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