| Singaporean Businessman Drops $26m in Casino Over 3 Days |
No wonder Genting's Resorts World at Sentosa (RWS) recently posted better-than-expected results for the second quarter after it emerged one player dropped SG$26 million (£12.5m) in just three days.The local businessman's tale of misfortune starts back in March when he was granted a line of credit up to SG$500,000, even though he had merely filled in an application at the newly opened RWS. He then went through several months of ups and downs at the baccarat table, sometimes wagering up to SG$400,000 a hand.
His line of credit was increased to SG$2 million in April after he pleaded with the casino. The 50-year-old businessman was now recording some big losses almost nightly.
On one session in June, he made a staggering SG$18 million loss, which was then followed up with a SG$3.7 million win, but within two days had lost that and added SG$8 million to his debt.
The managing director of a multi-million dollar company has been seeking legal advice after being granted access to large amounts of cash without seemingly having to prove his credit worthiness.
This unfortunate tale is likely to attract the attention of the media in Singapore, who are undecided on the necessity of two new casino developments in a country that had none last year.
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