82 Gaming
Groundbreaking Wynn
Wynn Resorts has made history by becoming the first casino operator
to enforce gaming debts racked up by high rollers in Macau though
Hong Kong’s judicial system. The ruling could have far-reaching effects
for the crucial VIp junket market
by Emanuel Graça
W
ynn Resorts (Macau) has The Hong Kong court’s decision collect through Hong Kong ... it was a
won a landmark court ac- marks a turning point for the Macau very big watershed event for those that
tion in Hong Kong against gaming industry, which is heavily driven extend credit in Macau,” he added.
a high roller, over a HK$30 million by the VIP market. High rollers account The president and chief executive of
(MOP30.9 million) gambling debt. for around two thirds of all casino rev- Las Vegas Sands, Sheldon Adelson be-
It is the first ever case in which a Macau enue in the city. lieves most Asian high-rollers will try
casino has tried to recoup gambling debts to settle debts with casino operators out-
through the courts in either Macau or Happy Sands side of courtrooms.
Hong Kong. Macau passed its first laws on The most enthusiastic reaction to “Asian people are far more face-
gaming credit in 2004. Hong Kong’s High Wynn’s victory so far has come from its sensitive. If somebody tries to collect
Court handled down judgment on the case rival Las Vegas Sands. money, particularly if you collect money
on February 12th this year. “I can tell you that [the court ruling] from gambling, because of the stigma
The claim against high roller Henry has had a profound impact on our abil- that is present in their social circles, the
Mong - also known as Meng Hengli - ity to get people’s attention, to [get them last thing they want to do is let their gov-
was for debts he racked up in Macau. to] come back and play or pay,” president ernment to find out,” he said.
Wynn Las Vegas also filed a writ against and chief executive of local subsidiary “So, I think that we’ll have a much
Mong in Hong Kong for Nevada debts. Sands China, Steve Jacobs said in an in- higher collection success rate than oth-
Mong allegedly owes the company a to- vestor’s conference call. erwise thought”.
tal of US$6.75 million. “The fact that we can now go and Wynn Macau has not yet commented
March 2010
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