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

Discussion in 'The Courtyard Café' started by kiss, Oct 12, 2010.

  1. kiss

    kiss Alfrescian Old Timer

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    Who is that Robert ? Anyone pls...:D

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    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
     
  2. Cestbon

    Cestbon Alfrescian (Inf)

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    At least these 2 more steady . Not like Mr Quek KPKB when lost.
     
  3. Glaringly

    Glaringly Alfrescian (InfP) [Comp] Old Timer

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    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:
     
  4. singveld

    singveld Alfrescian (Inf)

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    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.
     
  5. zuoom

    zuoom Alfrescian Old Timer

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    $100m? that's approx 167 peanuts?!
     
  6. Jah_rastafar_I

    Jah_rastafar_I Alfrescian (Inf)

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


    Are there big gamblers in las vegas?
     
  7. Narong Wongwan

    Narong Wongwan Alfrescian (Inf)

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    Any inside info who's the tycoon?
     
  8. Merl Haggard

    Merl Haggard Alfrescian (Inf)

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    Tan Boey Tee, former founder & major shareholder of Labroy Marine.

    Another Indonesian tycoon by the name of Hassan lost $46m to Marina Bay Sands 11/2 months ago.
     
  9. Narong Wongwan

    Narong Wongwan Alfrescian (Inf)

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    I dun suppose its Bob Hassan :D
     
  10. Narong Wongwan

    Narong Wongwan Alfrescian (Inf)

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    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
     
  11. hairylee

    hairylee Alfrescian Old Timer

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    Gentlemen!

    These tycoons are not stupid.
    It is called Investment.
     
  12. SneeringTree

    SneeringTree Alfrescian Old Timer

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    2010 he is worth 700 plus million (USD).


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


     
  13. Merl Haggard

    Merl Haggard Alfrescian (Inf)

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    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
     
  14. Merl Haggard

    Merl Haggard Alfrescian (Inf)

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    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: Oct 12, 2010
  15. singveld

    singveld Alfrescian (Inf)

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    wow, how does it feel to cause the death of your spouse for 30 years? I cannot imagine.
     
  16. Jah_rastafar_I

    Jah_rastafar_I Alfrescian (Inf)

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    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.
     
  17. Merl Haggard

    Merl Haggard Alfrescian (Inf)

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    Idiot started his working life as a police constable in the SPF.
     
  18. Talking Donkey

    Talking Donkey Alfrescian (S)

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    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.
     
  19. Weekim

    Weekim Alfrescian Old Timer

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    We need more people like him to create jobs! Well done PAP
     
  20. moolightaffairs

    moolightaffairs Alfrescian (Inf)

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    wow! u r good bro! this u also know!!! labroy marine towkay and his wife work very hard initially to build up the company. always got prob with psa due to the licence of the tugboat. :D
     

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