Wynn Macau Limited wins landmark court case from Malaysia

In Malaysia, a High Court Judge reportedly made history on Friday by ordering local gambler, Paul Poh Yang Hong, to repay the entirety of a debt he allegedly ran up while playing in a casino owned by Wynn Macau Limited.

Momentous decision:

Based on a Saturday report from the Reuters news agency published by the Malay Mail newspaper, the ruling from Judge, S Nantha Balan, is highly significant because it represents the first time a casino company has been granted permission to recover a gambling-related debt from the nation.

Credit agreement:

Reuters reported that Malaysia’s system has historically not recognized foreign gaming or wagering contracts but Wynn Macau, that is the Asian arm of Las Vegas-headquartered Wynn Resorts Limited, had won its actions after convincing the Kuala Lumpur court that the defendant had signed a credit agreement relevant to the debt worth slightly over $5 million.

The news agency reported that fund manager Poh had got into trouble while enjoying a gambling session in the Wynn Macau and had afterwards argued that he was unaware of having ever signed such a deal with the newest.

Precedent possibility:

Reuters cited an attorney working on behalf of this Hong Kong-recorded casino company, Vincent Law, as detailing that Poh had managed to repay some $800,000 of his debt before being sued in 2017. It reported that the ruling means that the player is currently on the hook for about $4.2 million and interest although there is a possibility he might appeal the decision.

Law to Reuters…

“If there is no appeal, I believe this judgment today will be the law in Malaysia for the near future. It is a great indication for the whole gaming market. ”