Lending money to big style gamblers is easy for Singapore gambling enterprises, but collecting on those debts is time-consuming and difficult. The number of VIP clients who’re in debt to casinos is increasing and becoming more of an problem.
VIP casino customers, like Asia table tennis gold medalist Kong Linghui, aren’t paying debts that are back gambling Singapore casinos, forcing operators to sue to reclaim their cash.
Bloomberg stated that in 2013, only two clients had been sued to recover money owed, but by a year later, that number had jumped to 49. Most big shots utilize the solutions of junket operators, who act as facilitators for casinos, guaranteeing an amount that is certain of from China’s wealthy gamblers.
The situation will there be are merely three such companies in Singapore, rather than approximately 200 in Macau, another popular spot for Chinese citizens.
When clients within the Lion City don’t settle their [...]