Exactly three years ago a local Singaporian businessman lost $19.35 million US dollars ($26.3m SG) on a three day gambling spree at the Genting’s Resorts World Sentosa Casino in Singapore.
Apparently, five months earlier the millionaire businessman was granted a SG$500k credit line at the casino which was extended to SG$2 million by April. However, as the 50 year-old businessman’s losses started to mount and exceed his agreed limit, he claims he was assured by one of the RWS’ senior officers that the casino had extended his credit.
After several months of winning and losing at the casino, events came to a head in June after he lost a massive SG$18 million during one session at the Genting’s Resorts. Despite winning SG$3.7 million in his next session he proceeded to lose a further SG$11 million over the next two days to go SG$26.3m in the red.
The high rolling gambling addict would apparently wager up to $400,000 a hand at the baccarat tables and at one stage, when his losses on the day exceeded SG$4 million, his girlfriend was reduced to tears and pleading with the RWS’ senior officers to not provide any further credit.
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