Australian gambler sues casino over A$1.4 billion binge - Blog

CANBERRA (Reuters) - An Australian gambler who lost millions of dollars in a A$1.4 billion ($909 million) gambling binge is suing one of the country's largest casinos, claiming he was targeted by management despite his known gambling addiction.

Gambling addict Harry Kakabas is seeking A$50 million in damages from Melbourne's Crown Casino after losing A$37 million in a 14-month baccarat bet.

Back in 2007, real estate developer Kakabas was locked out of all casinos in Australia.

But the Supreme Court of Victoria said Crown management "had no knowledge" of the ban from 2004, according to The Age.By the way, for some online casino fun, check out this cool link: https://onlinenzcasino.com/.

According to the Supreme Court documents, Kakavas was wearing a hidden recorder that captured Crown management's alleged attempt to lure Kakavas back to the riverside baccarat table.

Crown is owned by Australian billionaire James Packer, who also operates Crown Macau and is developing a second casino project, City of Dreams, on Chinese territory. The company posted a profit of A$370 million last year.

"We have no intention of responding to the allegations made publicly. Crown spokesman Gary O'Neill told Reuters.

Crown Chief Executive Officer Rowen Craigie and Chief Operating Officer John Williams, who are responsible for Crown reporting a 4 percent increase in table game and gaming machine sales this month, face accusations of unconscionable conduct as Packer seeks to expand its Macau operations The company is facing accusations of unconscionable conduct.

Court documents in Melbourne allege that emails detailed the Crown's plan to recall Kakabas after it was discovered that he had lost millions of dollars gambling in Las Vegas.

If found guilty, Crown could be found to have violated Australia's Trade Practices Act, state gambling regulations, and special laws covering the operation of high-profile casinos.

Vietnam Casino Attracts Wealthy Chinese; Prudence Pays Off

DANANG, Vietnam (Reuters) - A small beachfront Vietnamese casino is taking a shot at Macau's VIP gambling scene, drawing more wealthy Chinese than many of its Southeast Asian rivals from its cylindrical facade with the allure of sun, sand and thoughtfulness.

Crown International Gaming Club, a privately owned casino along Da Nang's rapidly developing main resort strip, has emerged over the past year as the most exciting place for wealthy Chinese to place bets worth at least HK$1 million ($129,030).

The main gaming area and 13 VIP rooms, lavishly decorated in beige and gold, are about a quarter the size of the average Macau casino, but industry executives estimate that monthly VIP sales have increased to $3 billion over the past year, more than the Philippines' Solair, Cambodia's NagaCorp, and Genting Highlands in Malaysia, which is at least double that of larger rivals.

Crown executives declined to discuss financial details.

Says James Yang, director of marketing for the Crowne Plaza, the luxury hotel next door to the casino. The hotel, run by the InterContinental Hotels Group, caters primarily to Chinese guests with a sauna, karaoke room, and Mandarin-speaking staff.

Already the largest resort complex in Da Nang, it will also double the number of rooms as part of a $600 million redevelopment plan that includes a JW Marriott-branded hotel, a duty-free shopping mall, and a casino expansion.

Not Just for Bread

Vietnam could become a major casino hub in Southeast Asia if it allows locals to gamble, analysts say. Professor Augustine Ha Tong Vinh, who advises the government on the gambling industry, said the restrictions will likely be discussed next year.

Hong Kong-based Chow Tai Fook Enterprises and VinaCapital are building a casino resort worth up to $4 billion in central Quang Nam province, which is expected to open by 2018. Meanwhile, the casino Ho Tram, backed by US hedge fund Harbinger Capital, is expanding its site on a beach two hours' drive from casino-game.co.za.

So far, the Chinese have been the largest customer base for Vietnamese casinos, and Crown, like its Macau peers, is working with junket operators, typically companies that lend credit to VIP gamblers and help them circumvent Chinese currency regulations.

At least 10 of these junkets are now focusing exclusively on Da Nang, industry executives say, as the slump in Macau's gaming industry has pushed their business models to the brink of collapse.

Sipping fresh coconut juice in a private dining room adjacent to the casino, junket operator Hugo Hoang said, "We have beautiful beaches. There are beautiful beaches, there are cultural spots, and it's cozy for the Chinese."

Huang, who also runs VIP rooms in Macau and Cambodia, operates two weekly charter flights from China to Da Nang. Last month he invited 100 VIP gamblers from China to a golf tournament, ending their trip with a gala dinner and pop music concert.

The leisure activities in Da Nang are in line with the government's efforts to rebrand the former wartime U.S. military presence in the city as a tourist destination for all to enjoy.

Currently, Da Nang is positioning itself as a destination for leisure, beaches, and meetings and conferences," said Nguyen Xuan Binh, director of the Da Nang Tourism Promotion Bureau.

Asked about the Crown, with its ornate facade and elaborate fountain, Binh said he had never heard of it.

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