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Big Crown punter on the run after losing $8 million

Tue, May 13, 4:21pm by Dominic Ciconte

Crown CasinoAS far as gambling binges go, this one could take the cake.

A Crown Casino high roller may have rolled himself into hiding after amassing an $8 million debt.

The Herald Sun reported a mystery Chinese gambler was given $13 million credit in one day while visiting as a guest of the Casino’s high rollers area in July 2011.

Despite the man registering himself as having addresses in China and North Balwyn, he now cannot be found with Crown going to the Supreme Court in an attempt to get back its lost millions.

In a 13-day gambling trip, the man ended up owing Crown just under $7 million with the casino adding $1 million interest.

The gambler has since refused to repay the debt despite repeated requests from Crown’s lawyers.

The casino has refused to comment on the matter or whether it has beefed up its risk assessments on future high rollers.

JAMES Packer may have an extra $500 to add to his casino’s newest $8 million loss.

The billionaire was last week fined for his street fight with 35-year friend David Gyngell – a scuffle that made news around the country.

AustralianGambling has started up a fund to help Packer pay for the fine. You can send your bank details to stinking_rich@jpacker.com.au

THERE is some good news for Packer among what seemingly has been a week from hell. His embattled Sri Lankan casino resort is close to finally getting the green light.

The Australian reported Sri Lanka’s government had made it clear no more casino licenses would be issued in the near future, but they won’t stop Crown teaming with an existing licensee which, lucky enough, Packer had already put into action with partner, Rank Holdings, reportedly holding two licences.

Packer’s Asian gambling venture Melco Crown Entertainment also showed some big figures in its March quarter earnings, increasing earnings by 31 per cent to US$387.5 million compared to expectations of US$360 million.

Hopefully there’s enough there to help with that fine.


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