28 Dec '11, 12am

Marina Bay Sands hauls 5 gamblers to court to recover $7.5 million they allegedly owe

Only premium players get credit UNDER Singapore's Casino Control Act, the two casinos here can extend credit only to premium players. They are defined as patrons who have deposited at least $100,000 with the casinos. This can be in the form of cash, cheque or chips. The casinos will decide on a case-by-case basis how much to lend a patron, taking into account the client's financial standing and ability to repay. According to gaming analysts, the credit can be as much as $3 million to $5 million. Industry players say that before a casino extends credit to a player, both parties must sign a written agreement stating the player's maximum credit limit, repayment time and other terms and conditions. Repayment periods vary from a few months to a year, said HSBC analyst Sean Monaghan, who added that casinos typically issue warnings if payment is not made within the stipulated tim...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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