A Singaporean has recently lost 100 million (SGD) at the new casinos.
A Singaporean businessman has set the gaming world abuzz with news that he recently lost a staggering S$100 million at the two casinos Resorts World Sentosa (RWS) and Marina Bay Sands (MBS).
According to Today newspaper, the tycoon is on the Forbes list of the 40 richest people in Singapore. He is not the only one who’s been losing big — another tycoon from the timber-rich East Malaysian state of Sabah also reportedly lost about S$50 million around the same time.
Together, the duo’s combined losses of S$150 million have set tongues wagging, even among the local high-rollers’ circle.
And lest you think that they are hurting badly from the losses, a high roller who is a regular at both local casinos told the same newspaper, “These guys can well afford the losses.”
Unlike Henry Quek the local businessman who lost S$26 million at RWS back in June and tried to sue the casino for giving him too much credit, both men have accepted their losses without much fuss.
Quek, who is the managing director of seafood distrbutor, Far Ocean Sea Products, has also reportedly settled his outstanding debts with RWS.
Gaming analysts told The Straits Times that high rollers generally bet at least tens of thousands of dollars a hand.
Also known as “whales”, they usually play baccarat or blackjack at the casinos’ exclusive private rooms. Industry insiders and other players say it is not uncommon to see bets of more than S$300,000 a hand.
Um, if you were being referred to as a "whale", wouldn't you sort of feel you were being ripped off? Or flensed or rendered or something? I haven't been yet to either casino, though I am curious to go to the top of the Marina Bay Sands, where they have connected 3 tall buildings with what looks like a cruise ship in the sky. There is an infinity pool up there that looks pretty amazing (let the flash part reload a few times to see it. God I hate flash and every site ever that uses it. Somehow the most elite, cool brands always use this horrible flash-heavy site you can't link to or navigate properly and often has music. DO NOT WANT.) You have to buy like $100 in chips right away (a pointless measure to exclude poor people who can't afford to gamble.) They give it back? Or let you use it to pay for food?