Star Gold Coast sues high roller for $43m in gambling debts
The Star Gold Coast is attempting to chase a $43 million debt from a Singaporean high roller who spent 5 days at the tables in July last year. The player handed over a blank cheque to the casino as collateral, but after leaving the country, cancelled the cheque.
The Star are pursuing the debt through the Singapore high courts. The gambler is claiming that the casino staff made a series of “errors” including exposing the player’s cards when he wanted to turn them himself. The casino is arguing that would have had no financial impact on the gambler as the cards were already dealt.
The Star Gold Coast remain confident they will recoup the debt.
Marina Bay Sands Expansion
The Las Vegas Sands Corp. announced its intention to invest $3.3 billion to expand its non-gaming facilities at the Marina Bay Sands Resort, Singapore. The expansion will include a 15,000 seat arena, a 1,000 suite luxury hotel tower and additional meeting space at the casino. Along with this it has been granted the right to add a further 1,000 gaming machines to the casino floor.
Part of the agreement with the Singapore government was an extension to the current casino duopoly for Las Vegas Sands Corp and Genting Resorts who run the only two casinos in Singapore. No further gaming licences will be granted before 2031
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Smoking bans hit Macau revenues
In 2017 Macau’s Legislative Assembly passed a revised bill that banned smoking at gaming tables in VIP rooms which were the only places in Macau casinos where it was still allowed. The rules came into force on 1 January, 2018 but the casinos had 12 months to set up smoking lounges for VIP players.
The full effect of the smoking bans are now being felt with revenues well below the 20.5% increase for the same period in the previous year. The results for March saw revenues falling only 0.4% according to official statistics, better than expected, but well short of the increases seen the previous year.
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