Malaysian court awards Wynn Macau $4.2M in unpaid credit

Wynn Macau has won a case against a Malaysian fund manager who had owed the casino operator HKD33 million ($4.21 million).

According to a Reuters report, Wynn Macau lawyers had argued that the money owed to the company was from a credit line opened for Paul Poh Yang Hong, and not from a wagering contract, the latter not recognized in the Southeast Asian country for legal disputes.

Judge S. Nantha Balan ordered Poh to pay to Wynn the outstanding amount, from an original loaned amount of HKD40 million ($5.10 million), plus interest.

Reuters had sought a reaction from Poh’s counsel, who declined to provide comment. “If there is no appeal, I believe this judgment today will be the law in Malaysia for the foreseeable future… It is a good sign for the whole gaming industry,” Wynn lawyer Vincent Law said.