Malaysian court awards Wynn Macau 4 2m in unpaid credit
Ruling in favour of Wynn Macau, a Malaysian judge has decided a fund manager must pay the operator $4.2m in unpaid credit.
This is the first time a casino has been allowed to recover payments in the country, according to a Reuters report.
Betting or gaming contracts are not recognised in Malaysia, preventing casinos from recuperating gambling dues owed to them by clients.
In this case, however, Wynn’s lawyers argued it was not seeking dues from a wagering contract, but instead from a credit agreement made between the casino and a client.
Wynn filed the lawsuit against Paul Poh Yang Hong in 2017 for HK$33m ($4.2m) after he failed to honour the agreement.
He took a line of credit worth HK$40m from Wynn and had paid down to roughly HK$33m before Wynn sued him.
Speaking to Reuters, Wynn’s lawyer, Vincent Law, said: "If there is no appeal, I believe this judgment today will be the law in Malaysia for the foreseeable future.
"It is a good sign for the whole gaming industry."