Martin Lee @ Sg
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Man Loses $26m at Casino in 3 Days

Obsessive gambling is a compulsion that can break up families.

For those who gamble, be careful – very careful.

Do not let what you work hard for disappear from you in the blink of an eye.

Local businessman loses $26m at RWS casino over 3 days (Today)

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10 comments
Garrett says 9 years ago

Well legal issues aside on who is right or wrong, the rich guy went to the casino, could not control himself and now is threatening to sue… what a sore loser. Should people start to sue brokerages for contra trading and margin trading now?

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    Garrett says 9 years ago

    I can’t help myself… As a rich and presumably successful businessman does the guy know that games in the casino are designed to fill the pockets of the house right? The phrase “the house always win” is probably not too far from the truth.

    Reply
lioninvestor says 9 years ago

There’s a Chinese saying that goes, “Yuan Du Fu Shu”…..

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Chris Tan says 9 years ago

He has too much money to lose and now he is donating some to his lawyer too. If you sue RWS for irresponsibility on their part then it will also means that you can sue the people who allow casino on this island for being irresponsible too . What happens if instead he wins 26m you mean RWS can bring on a case and sue him for irresponsible gambling ? It is a game of luck , it is either you win or you lose. willing gambler willing winner and willing loser . that is the name of the game.

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Chris Tan says 9 years ago

It is so easy to make or break on a gambling table , ultimately it is a zero sum game , which means at the end of all the wins and all the losses it shall adds up to zero including your capital of course.
Yes i do gamble too but in this case i am on the casino side by being a share holder of Casino shares. No rocket science needed just plain common sense. The longer the casino operates the more profit it shall accumulate and expand. Just check out the progressive P/L of gaming companies and you will know what i mean.

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Norman Tsai says 9 years ago

In my humble opinion, this businessman is ill-disciplined and a sore loser… fancy him suing the casino when he lost and blaming the casino for encouraging him in irresponsible gambling and breaching the duty of care owed to him?!

Utter rubbish.

He’s a willing sucker at the casino… a big time sucker without mental nor money discipline and that’s a formula for financial disaster. The other directors in his company should be concerned about his integrity.

I doubt the court will even hear this case because they wouldn’t want to set a precedent for future cases involving similar antics by sore losers who want their lost money back from the casinos. Such cases won’t do our gaming industry any good.

Cheers!

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Jasmin says 9 years ago

Look from another angle, it is the presence or existence of gamblers that make a casino “successfull”; more than enough to feed its employees and add $$$ to the government.

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    lioninvestor says 9 years ago

    Yes, a casino is another way whereby wealth flows from the masses to a few.

    Other examples include 4D, toto and of course, our stock market. 😀

    Reply
Jasmin says 9 years ago

If this 26m is his own money, then at most start from scratch again. If this 26m is borrowed money, then I think he is doomed! I wish I am the casino to have a small share of this 26m!

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    lioninvestor says 9 years ago

    According to the article, the man could pay $10 million immediately.

    He was gambling on credit so will have to find some means to settle the rest….

    Reply
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