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Mdm Tang
Guest
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http://news.asiaone.com/News/Latest+News/Singapore/Story/A1Story20121210-388808.html
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He carries $1 million in cash to casino
Except for his BMW 645 at a nearby HDB carpark, nothing points to his wealth. His is a classic rags-to-riches story. -TNP
Zaihan Mohamed Yusof
Tue, Dec 11, 2012
The New Paper
It’s strange listening to the stories that high rollers shared with The New Paper on Sunday.
RELATED STORIES
Tough deal to please whales
Big money, big losses
Karung guni man blows $400,000 in one go
The world they live in is surreal to most of us HDB-dwelling Singaporeans.
They live life large and fast. Money is never a problem, judging by their nonchalance at risking large sums at the casino tables.
It becomes even more surreal when the man who lost $400,000 on a single hand of baccarat, tells his story of winning and losing millions over a cup of tea at a coffee shop in Toa Payoh.
The high roller, who wants to be known only as Mr Han, dresses simply – a T-shirt (which I suspect is branded), bermudas and leather sandals.
Except for his BMW 645 at a nearby HDB carpark, nothing points to his wealth.
His is a classic rags-to-riches story. He started small selling scrap.
He jokes: “What people throw away – I sold by the container loads. You could have called me a karung guni man.”
That was his past, says the 40-year-old.
“I spot good deals now,” says Mr Han, a poly graduate.
Without being specific, he says he sniffs out business opportunities in the scrap metal industry.
On the few occasions Lady Luck smiled, he bought scrap metal at a low price and sold it for a big profit.
One European deal earned him close to $20 million because of great timing – there was a shortage of the specific metal worldwide.
“I watched each day as the price of that metal kept climbing. My cargo of scrap metal was in a container ship slowly making its way here,” he recalls.
“When my ship came in, it was as though I hit the jackpot.”
But what he makes, he sometimes loses at the casinos.
In the last two years, his $10 million in losses would have easily bankrupted most people many times over.
But casinos are seeing more high rollers like him.
They’re unknowns, yet they are coming out of the woodwork, reported The Business Times (BT) last year.
Mr Rob Goldstein, Las Vegas Sands’ president of global gaming operations told BT: “There are people who show up with US$10 million (S$12 million), US$20 million, US$30 million, and no one knows who they are until they say: ‘I have US$20 million. Can you help me get started on gambling?’
“That’s the market in Singapore. We’re unearthing opportunities that hitherto we never saw.”
Mr Han allows me a peek into his world by inviting me to his home – a three-storey bungalow in the Newton Road area.
Looking at his garage, things begin to make sense.
His stable of four cars – all European – reflects his love for anything fast. The sports utility vehicle belongs to the wife, he says.
Hidden in a lower drawer of a handmade wooden cupboard are rows of cognac – still in their original packaging.
He offers me a drink. I decline, asking for water instead.
In the master bedroom are his wife’s collection of Hermes Birkin bags, each worth about $30,000.
They are displayed like in a designer showroom – showcased individually in top-to-bottom shelves alongside made-to-order high-heeled shoes.
Mr Han says he “just brought $1 million in cash to Marina Bay Sands (MBS) to become a Diamond card member”.
He isn’t being a show-off, just truthful.
He shows me his MBS Diamond card – it glitters under the living room chandelier and has a chrome-like appearance.
A hologram of a dragon is embedded on the card, perhaps for better fengshui, he says.
Mr Han clarifies that since he already has a history of gambling at MBS, it wasn’t difficult to get the exclusive membership.
What makes him a welcome VIP at casinos here is his positive outlook on wealth.
“You will lose money at the casino, but you can easily make back what you lost through business,” he says confidently.
With exclusive members like Mr Han, the gaming industry is expected to grow.
These whales – rare but not endangered – will continue to be courted and treasured by casinos.
What can $400,000 buy you
- A 108 sq m, 4-room HDB flat in Choa Chu Kang
- A 4.8 litre Porsche Cayenne worth aobut $304,000 (without COE)
- 133,333 meals of chicken rice sold at $3 a plate
- 38 Rolex Explorer II watches retailing at about $10,500 a piece
http://news.asiaone.com/News/Latest+News/Singapore/Story/A1Story20121210-388808.html
.
He carries $1 million in cash to casino
Except for his BMW 645 at a nearby HDB carpark, nothing points to his wealth. His is a classic rags-to-riches story. -TNP
Zaihan Mohamed Yusof
Tue, Dec 11, 2012
The New Paper
It’s strange listening to the stories that high rollers shared with The New Paper on Sunday.
RELATED STORIES
Tough deal to please whales
Big money, big losses
Karung guni man blows $400,000 in one go
The world they live in is surreal to most of us HDB-dwelling Singaporeans.
They live life large and fast. Money is never a problem, judging by their nonchalance at risking large sums at the casino tables.
It becomes even more surreal when the man who lost $400,000 on a single hand of baccarat, tells his story of winning and losing millions over a cup of tea at a coffee shop in Toa Payoh.
The high roller, who wants to be known only as Mr Han, dresses simply – a T-shirt (which I suspect is branded), bermudas and leather sandals.
Except for his BMW 645 at a nearby HDB carpark, nothing points to his wealth.
His is a classic rags-to-riches story. He started small selling scrap.
He jokes: “What people throw away – I sold by the container loads. You could have called me a karung guni man.”
That was his past, says the 40-year-old.
“I spot good deals now,” says Mr Han, a poly graduate.
Without being specific, he says he sniffs out business opportunities in the scrap metal industry.
On the few occasions Lady Luck smiled, he bought scrap metal at a low price and sold it for a big profit.
One European deal earned him close to $20 million because of great timing – there was a shortage of the specific metal worldwide.
“I watched each day as the price of that metal kept climbing. My cargo of scrap metal was in a container ship slowly making its way here,” he recalls.
“When my ship came in, it was as though I hit the jackpot.”
But what he makes, he sometimes loses at the casinos.
In the last two years, his $10 million in losses would have easily bankrupted most people many times over.
But casinos are seeing more high rollers like him.
They’re unknowns, yet they are coming out of the woodwork, reported The Business Times (BT) last year.
Mr Rob Goldstein, Las Vegas Sands’ president of global gaming operations told BT: “There are people who show up with US$10 million (S$12 million), US$20 million, US$30 million, and no one knows who they are until they say: ‘I have US$20 million. Can you help me get started on gambling?’
“That’s the market in Singapore. We’re unearthing opportunities that hitherto we never saw.”
Mr Han allows me a peek into his world by inviting me to his home – a three-storey bungalow in the Newton Road area.
Looking at his garage, things begin to make sense.
His stable of four cars – all European – reflects his love for anything fast. The sports utility vehicle belongs to the wife, he says.
Hidden in a lower drawer of a handmade wooden cupboard are rows of cognac – still in their original packaging.
He offers me a drink. I decline, asking for water instead.
In the master bedroom are his wife’s collection of Hermes Birkin bags, each worth about $30,000.
They are displayed like in a designer showroom – showcased individually in top-to-bottom shelves alongside made-to-order high-heeled shoes.
Mr Han says he “just brought $1 million in cash to Marina Bay Sands (MBS) to become a Diamond card member”.
He isn’t being a show-off, just truthful.
He shows me his MBS Diamond card – it glitters under the living room chandelier and has a chrome-like appearance.
A hologram of a dragon is embedded on the card, perhaps for better fengshui, he says.
Mr Han clarifies that since he already has a history of gambling at MBS, it wasn’t difficult to get the exclusive membership.
What makes him a welcome VIP at casinos here is his positive outlook on wealth.
“You will lose money at the casino, but you can easily make back what you lost through business,” he says confidently.
With exclusive members like Mr Han, the gaming industry is expected to grow.
These whales – rare but not endangered – will continue to be courted and treasured by casinos.
What can $400,000 buy you
- A 108 sq m, 4-room HDB flat in Choa Chu Kang
- A 4.8 litre Porsche Cayenne worth aobut $304,000 (without COE)
- 133,333 meals of chicken rice sold at $3 a plate
- 38 Rolex Explorer II watches retailing at about $10,500 a piece
