Chinese High Rollers and Their Debts

The casinos in Macau are of course staggeringly successful fueled by the wealthy Chinese who are very keen gamblers.  Because gambling is illegal in mainland China they flock here by the thousands to enjoy the fabulous casinos.   However there are some problems, some of the high-rollers are preferring to just quit town without paying their gambling debts.

One of these Macau casinos, the Venetian Macau is taking legal action in a Hong Kong court attempting to recover about $4.5 million dollars.  The owner of the casino is Sheldon Adelson and he is preparing a number of court cases against these wealthy Chinese gamblers.    One lawsuit is against Zou Yunyu, the owner of the Chinese property company – Shanghai Gaoyuan Property Group – the amount believed to be about $3 million.   Another case is over $1.5 million from a Hubei based businessman – I trust neither of them used any of the roulette strategies on this site !

One of the problems the Macau Casinos have had is that these debts are not recognised as legal in mainland China.  However fortunately for them both Macau and Hong Kong actually have separate legal systems from the rest of China and these debts can be pursued there.

Sheldon Adelson can probably cope with these debts though, he’s listed as being the 8th richest man in the US and his fortune is estimated to be something like $20 billion.  He has casinos across Nevada and Asia and even has interests in the Israeli media mainly in Newspapers.  He actually donated over nearly $100 million to Republican candidates in the run up to the last US elections.

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