Marina Bay Sands: High Roller receives repayment

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Peter Brandt July 29, 2020

After a long dispute, the Marina Bay Sands Casino has now decided to pay the High Roller Wang Xi an amount of $ 6.5 million. The professional gambling and the casino belonging to the Marina Bay Sands Resorts had agreed on this sum. The reason for the dispute is said to have been an unauthorized payment of credit XIS on foreign accounts. According to the casino statements, however, written payment instructions should be available, which the company had not approved for inspection. Probably in order to counteract further negative press and the risk of losses of valuable high rollers, companies belonging to Las Vegas Sands are now said to have agreed to an extraordinary agreement.

It is still unclear how a millions of collected casino profits in Marina Bay Resorts could be transferred to the wrong accounts. ((©cocoparisienne/Pixabay)

A total of 22 transfers to external accounts

Actually, one should think that payment instructions in the millions are checked twice and triple before they are actually carried out, especially in the gaming sector. At the Casino des Marina Bay Sand Resorts in Singapore But you don’t take it quite exactly. At least this would be an explanation of why the Chinese high roller Wang Xi suddenly had to accept that $ 9.1 million had disappeared from his credit account in the casino.

But what exactly had happened? In the period from October to December 2015 A total of 22 individual transfers from the XIS credit account have been carried out on foreign accounts. According to Wang XI, these accounts should not be part of his person. In addition, he never personally authorized these payments.

Payments in casinos for high scooters. Casinos often offer their particularly important guests, the VIPS or high scooters, the opportunity to lead credit accounts at the casino. Guests have the opportunity to transfer money to their casino property account in a digital way before playing, which they can be paid out as jetons after arrival at the casino. In this way, high rollers and casino operators want to minimize the risk of theft, since capital-strong players are therefore not forced to travel to the venue with horrific cash sums.

The Marina Bay Sands Resorts sees it differently. After Wang XI In front of the Singapore High Court, a repayment of his entire credit The casino said that there were documents on which payment instructions signed by Wang XI could be seen. In addition, it was common to obtain personal approval before Wang XI.

Supposedly fake signatures

Since the dispute between Marina Bay Sands Casino and Wang Xi was equivalent to a patient situation, Wang XI from the Casino demanded the publication of the allegedly signed payment instructionsto have them checked with the help of his lawyers. However, Marina Bay Sands Resort rejected this proposal on the grounds that the documents had already been destroyed.

This reaction then enables XI’s lawyers to take further legal steps. These went so far that in the end Singapore Central Gaming Authority as well as the U.S. Ministry of Justice had to turn on speculations that the company bustle at the meantime Suspected money laundering in the millions put. Singapore has been striving for a long time to proceed against illegal money laundering.

What is the Marina Bay Sands Resort? The Marina Bay Sands Resorts was only opened in 2010 and belongs to the American company Las Vegas Sands. The resort comprises a total of 20 hectares, the buildings are made up of different facilities, including a shopping center, a hotel, gastronomic facilities, art museums, conference halls and a casino. Since the opening, the 57-story skyscrapers have attracted far more than 330 million visitors.

This allegation seemed to be the person responsible CEO Sheldon Adelson But then a little too risky, which is why one steered and an out -of -court settlement with Wang XI, of course, also to avoid further examinations that could possibly deter other important high scooters. However, these represent the most important source of income, especially for casino operation.

So in order not to endanger the overall project, the Marina Bay Sands Resort was forced to arrange for repayment. Overall, however, Wang XI did not receive the entire sum of over $ 9 million, because It was agreed on an amount of $ 6.5 million.

Rob Goldstein, President and Coo of the company, who emphasized again, was relieved Marina Bay Sands Resorts Central part of Las Vegas Sands’s expansion strategy be.

“New luxury hotels and a first -class entertainment are exactly the catalysts that we need to enable additional visits to Singapore and especially in Marina Bay Sands. The expansion of our IR in Singapore is a key component of our company’s strategic growth plan and also reflects the strong tourism and business potential in Singapore. The additional hotel rooms are extremely important for us to satisfy the demand of our leisure and business tourists as well as our premium customers. ” – Rob Goldstein, President and Chief Operating Officer, marinabaysands.com