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S’pore tycoon blows S$100m at the tables

kiss

Alfrescian
Loyal
#1
Who is that Robert ? Anyone pls...:biggrin:

====================================================

SINGAPORE — Sources have told TODAY that a local businessman, who appeared on the latest Forbes list of Singapore’s 40 richest people, recently lost a total of S$100 million at the two casinos here.

While significant, this is a fraction of his estimated net worth. But he’s not the only high—roller to discover that "the house always wins".

Around the same time, sources said, another tycoon from the timber—rich East Malaysian state of Sabah lost S$50 million here.

"These guys can well afford the losses," said one high—roller who is a regular at Singapore’s two casinos — at Resorts World Sentosa and Marina Bay Sands.

However, while gamblers losing S$10 million to S$20 million over a few sessions in the rooms reserved for high—rollers are no longer a rare breed, the source said that whispers of these two businessmen parting with a total of S$150 million have raised more than a few eyebrows, even among the regulars.

News of these two multi—million—dollar casino losers comes amid an update that local businessman Henry Quek, who lost S$26 million during a three—day gambling spree, is said to have settled his debts.

Mr Quek, the managing director of Far Ocean Sea Products, a seafood processing and trading company operating out of Fishery Port Road in Jurong, had initially considered legal action against Resorts World Sentosa for granting him credit too easily.

It is understood that the casino had shaved S$6 million off his debt initially and another S$3 million after the media reports about the case.

Mr Quek is said to have settled the rest of the outstanding debt. Unlike Mr Quek, the two latest multi—million—dollar losers, who are believed to have put their money at gaming tables of both Resorts World Sentosa and Marina Bay Sands, are said to have absorbed their losses without any complaints.

Against the backdrop of such mega—losses by individual high—rollers, analysts say it is not surprising.

Mr Sheldon Adelson, chairman of Las Vegas Sands, parent of Marina Bay Sands, predicted that Singapore could, in a few years, overtake Las Vegas as the world’s second—largest gaming centre behind Macau.



TODAY
 

Glaringly

Alfrescian (InfP) [Comp]
Generous Asset
#3
It definitely has a lot of repercussion for their loses. The report talks as if they are quite happy to lose? :rolleyes:

If more of these business tycoons are losing their wealth, you could jolly well see the prices of services and goods goes up accordingly. :mad:
 

singveld

Alfrescian (Inf)
Asset
#4
Who is that Robert ? Anyone pls...:biggrin:
Mr Sheldon Adelson, chairman of Las Vegas Sands, parent of Marina Bay Sands, predicted that Singapore could, in a few years, overtake Las Vegas as the world’s second—largest gaming centre behind Macau.
total rubbish.
that two casino are no match for LAS VEGAS.
There is much more to LAS VEGAS than gambling.

And i dun have to be discriminated because of my pink IC, and pay 100 to gov. screw the casino in singapore.
 

Jah_rastafar_I

Alfrescian (Inf)
Asset
#6
Who is that Robert ? Anyone pls...:biggrin:

====================================================

SINGAPORE — Sources have told TODAY that a local businessman, who appeared on the latest Forbes list of Singapore’s 40 richest people, recently lost a total of S$100 million at the two casinos here.

While significant, this is a fraction of his estimated net worth. But he’s not the only high—roller to discover that "the house always wins".

Around the same time, sources said, another tycoon from the timber—rich East Malaysian state of Sabah lost S$50 million here.

"These guys can well afford the losses," said one high—roller who is a regular at Singapore’s two casinos — at Resorts World Sentosa and Marina Bay Sands.

However, while gamblers losing S$10 million to S$20 million over a few sessions in the rooms reserved for high—rollers are no longer a rare breed, the source said that whispers of these two businessmen parting with a total of S$150 million have raised more than a few eyebrows, even among the regulars.

News of these two multi—million—dollar casino losers comes amid an update that local businessman Henry Quek, who lost S$26 million during a three—day gambling spree, is said to have settled his debts.

Mr Quek, the managing director of Far Ocean Sea Products, a seafood processing and trading company operating out of Fishery Port Road in Jurong, had initially considered legal action against Resorts World Sentosa for granting him credit too easily.

It is understood that the casino had shaved S$6 million off his debt initially and another S$3 million after the media reports about the case.

Mr Quek is said to have settled the rest of the outstanding debt. Unlike Mr Quek, the two latest multi—million—dollar losers, who are believed to have put their money at gaming tables of both Resorts World Sentosa and Marina Bay Sands, are said to have absorbed their losses without any complaints.

Against the backdrop of such mega—losses by individual high—rollers, analysts say it is not surprising.

Mr Sheldon Adelson, chairman of Las Vegas Sands, parent of Marina Bay Sands, predicted that Singapore could, in a few years, overtake Las Vegas as the world’s second—largest gaming centre behind Macau.



TODAY
Sinkieland beat las vegas!!!! Beat las vegas????!!!!


Are there big gamblers in las vegas?
 

Narong Wongwan

Alfrescian (Inf)
Asset
#10
Singapore's 40 Richest
#12 Tan Boy Tee


Age 58
Net Worth $365 million
Married 2 children

Founded small tugboat company in 1978. Built it into one of the largest tug-and-barge operators in Southeast Asia, Labroy Marine. Still chairs the group, which has a fleet of 190 vessels and shipyard on Indonesian island Batam.



So that's more than a quarter of his wealth gone........wonder how long it took him to lose the millions
 

SneeringTree

Alfrescian
Loyal
#12
2010 he is worth 700 plus million (USD).


http://webcache.googleusercontent.c...Tee&cd=2&hl=en&ct=clnk&gl=sg&client=firefox-a


Singapore's 40 Richest
#12 Tan Boy Tee


Age 58
Net Worth $365 million
Married 2 children

Founded small tugboat company in 1978. Built it into one of the largest tug-and-barge operators in Southeast Asia, Labroy Marine. Still chairs the group, which has a fleet of 190 vessels and shipyard on Indonesian island Batam.



So that's more than a quarter of his wealth gone........wonder how long it took him to lose the millions
 

Merl Haggard

Alfrescian (Inf)
Asset
#13
I dun suppose its Bob Hassan :biggrin:
Bob Hassan is a 'has been.'

BT Tan is no longer the chairman of Labroy Marine after he sold his interest to Arab investers in 2007.




Singapore's 40 Richest
07.28.10, 06:00 PM EDT


Rank Name Net Worth ($Mil) Age

1 Ng family 7,800 NA
2 Khoo family 5,900 NA
3 Wee Cho Yaw 3,600 81
4 Kuok Khoon Hong 3,500 61
5 Richard Chandler 3,400 52
6 Kwee brothers 3,300 NA
7 Zhong Sheng Jian 1,800 52
8 Peter Lim 1,600 57
9 Kwek Leng Beng 1,400 69
10 Lee Seng Wee 1,300 79
11 Ong Beng Seng & Christina Ong 1,000 66
12 Peter Fu Chong Cheng 825 NA
13 Lien family 790 NA
14 Tan Boy Tee 730 61
15 Chang Yun Chung 670 92
16 Ho Sim Guan 635 83
17 Chua Thian Poh 545 62
18 Kwek Leng Kee 515 55
19 Henry Ngoh 420 52
20 Olivia Lum 415 49
21 Ow Chio Kiat 390 65
22 Yaw Chee Siew 385 47
23 Loo Choon Yong 360 61
24 Koh Wee Meng 335 47
25 Lee Kian Soo 330 65
26 Simon Cheong 325 53
27 Ho Kwon Ping 305 58
28 Ron Sim 301 52
29 Cheng Wai Keung 300 59
30 John Chuang 295 62
31 Yao Hsiao Tung 280 70
32 Kwek Leng Peck 250 54
33 Ng Chwee Cheng 240 78
34 Vivian Chandran 230 NA
35 Chew Hua Seng 210 56
36 Victor Sassoon 206 53
37 Oei Hong Leong 205 62
38 John Lim 202 54
39 Tan Pong Tyea 200 62
40 Sunny George Verghese 190 50
 

Merl Haggard

Alfrescian (Inf)
Asset
#14
This idiot is on the decline. Two months ago his silly 54 yr old wife committed suicide after she caught him gambling at RWS with his PRC mistress.

Two days after she had a scuffle with his PRC mistress at RWS, she killed herself, but he managed to arrange for a medical report to state that she
died of a severe heart-attack.
 
Last edited:

Jah_rastafar_I

Alfrescian (Inf)
Asset
#16
This idiot is on the decline. Two months ago his silly 54 yr old wife committed suicide after she caught him gambling at RWS with his PRC mistress.

Two days after she had a scuffle with his PRC mistress at RWS, she killed herself, but he managed to arrange for a medical report that she died of a
severe heart-attack.


Wow this is fucked up.


Quite pitiful despite getting married to such a rich guy and living the high life well he's a playboy as most rich men are.


Bloody report is fucked up too what's the purpose of reporting this? Is this a slap in the face for the common peasants that if you don't have millions to blow don't even come inside the casino?

I wonder how it felt like for that guy to blow away money like that. Money that i am sure took some amount of time for him to accumulate sucked away in a matter of mins by the casino.
 
#18
This idiot is on the decline. Two months ago his silly 54 yr old wife committed suicide after she caught him gambling at RWS with his PRC mistress.

Two days after she had a scuffle with his PRC mistress at RWS, she killed herself, but he managed to arrange for a medical report to state that she
died of a severe heart-attack.
Yes,he is on the decline Bro,heard he has has got cancer and has not much years left in him tat is why he can afford to throw his money away.
Latest i heard another of his friend a offshore oil trader lost closed to $20mil.
 
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