The nicest money lenders in Singapore

The nicest money lenders in Singapore

SINGAPORE - YOU have just lost $100,000 at the baccarat table and are down to your last chip.

But you're feeling lucky and think you can recoup your losses. Or maybe even go home with winnings in hand.

If you are among the handful of premium players at the two casinos here, getting that extra $100,000 on loan to gamble can be as easy as raising your hand, claims Mr Wang, a businessman in his 40s.

Mr Wang, a member at Marina Bay Sands (MBS), told The New Paper that borrowing money in the VIP rooms - exclusive areas where the well-heeled and high-flying CEOs come to play - is "easy to get and happens often, as long as you are a premium member and you qualify for the loans".

Casino loans to gamblers were put in the spotlight last week after the High Court delivered its judgment in Singapore's first casino debt case.

Under the Casino Control Act, a patron qualifies as a premium player of the casino when he opens a deposit account with the casino operator. To join, these premium players, or whales, must have at least a $100,000 account with the casino.

This gives them access to the 35 VIP rooms in the Paiza area of MBS, where big money is won or lost by these players.

Mr Wang - a businessman in his 40s who lives in a bungalow in the Katong area - paid $100,000 to join this exclusive club.

But he declined to say when he made this payment because he does not want to be identified.

Mr Wang's preferred game is Baccarat, where the minimum bet at the VIP rooms is $500 and the maximum is $750,000.

Most patrons there wagered between $2,000 and $5,000 for each game, he said.

Compared with the tables where ordinary members play, the mood at the Paiza is intense.

More about

Purchase this article for republication.

BRANDINSIDER

SPONSORED

Most Read

Your daily good stuff - AsiaOne stories delivered straight to your inbox
By signing up, you agree to our Privacy policy and Terms and Conditions.