In Malaysia, a High Court Judge reportedly made history on Friday by ordering local gambler, Paul Poh Yang Hong, to pay off the entirety of a debt he allegedly ran up while playing at a casino owned by Wynn Macau Limited.

Momentous decision:

According to a Saturday report from the Reuters news service published by the Malay Mail newspaper, the ruling from Judge, S Nantha Balan, is highly significant because it represents the first time a casino firm has ever been given permission to recover a gambling-related debt in the country.

Credit agreement:

Reuters reported that Malaysia’s judicial system has historically not recognized foreign gaming or wagering contracts but Wynn Macau, which is the Asian arm of Las Vegas-headquartered Wynn Resorts Limited, had won its action after convincing the Kuala Lumpur court that the defendant had signed a credit agreement pertaining to the debt worth slightly over $5 million.

The news service reported that fund manager Poh had got into trouble while enjoying a gambling session at the Wynn Macau and had subsequently argued that he was unaware of having ever signed such a contract with the brand.

Precedent possibility:

Reuters cited an attorney working on behalf of the Hong Kong-listed casino firm, Vincent Law, as detailing that Poh had managed to pay off some $800,000 of his debt before being sued in 2017. It reported that the ruling means that the player is now on the hook for approximately $4.2 million plus interest although there is a chance he may appeal the decision.

Law to Reuters…

“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.”