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Vol. 7 No. 10, October 2008, Dateline
Singapore Court Upholds U.S. Decision
In a landmark case, Singapore’s high court ruled that a businessman who lost $4.4 million in Las Vegas and left the country without paying his debt must abide by a 1999 U.S. court ruling and repay the money he owes.
Traditionally, gambling debts incurred in non-commonwealth countries could not be recovered in Singapore.
Poh Soon Kit lost the money at Caesars Palace over a six-year period beginning in 1992. He has appealed the ruling.
The ruling also has implications for two casinos that will open in Singapore soon. If the country is willing to help casinos in other jurisdictions recover their debts, reciprocity is expected to benefit Singapore casinos.
Traditionally, gambling debts incurred in non-commonwealth countries could not be recovered in Singapore.
Poh Soon Kit lost the money at Caesars Palace over a six-year period beginning in 1992. He has appealed the ruling.
The ruling also has implications for two casinos that will open in Singapore soon. If the country is willing to help casinos in other jurisdictions recover their debts, reciprocity is expected to benefit Singapore casinos.
Staff writers for Global Gaming Business magazine. Las Vegas, Nevada.
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