One of the largest gamblers at The Star Sydney, a millionaire real estate developer, is now suing the Australian venue for A$57 million in damages.
Phillip Dong Fang Lee, who was born in China, says Star executives took advantage of his addiction and his poor English comprehension while he spent tens of millions at the baccarat tables.
According to court records cited by The Australian, Lee claims he was duped into signing agreements he did not comprehend, extending credit to support his gaming.
Earned More than $2.25 billion
In 2022, when the New South Wales government was looking into operator Star Entertainment's noncompliance with regulations, Lee's name came up as a major spender at the facility.
According to the 2022 study, Lee spent almost twenty years buying chips at the Star for billions of dollars. He had wagered over A$2.25 billion (US$1.5 billion) at the baccarat tables, while losing A$57 million (US$37 million).
Lee was also found to be the biggest user of The Star's outlawed "China UnionPay process," which allowed customers to circumvent Chinese currency limitations by passing off gambling transactions as hotel bills. According to information submitted to the inquiry, Lee transferred at least A$100 million (US$66 million) through the scheme between 2007 and 2021.
Although Lee has not been charged with any wrongdoing, internal emails revealed that casino employees had worries as early as 2015 that Lee's UnionPay spending was exceeding his gambling activity, which is a warning sign for money laundering.
Regulators later came to the conclusion that Star Entertainment put money from high-rolling customers ahead of compliance requirements and neglected to follow anti-money laundering procedures.
"Psychological Dependency"
According to Lee's lawsuit, he was unable to leave the gambling tables because of a "pathological addiction." According to the lawsuit, star managers courted him while knowing about his compulsive gambling, offering him hospitality packages, private rooms, and credit.
Lee says he thought the paperwork he was required to sign were acknowledgments of chip deliveries rather than checks payable to the casino because of his poor English. His attorneys contend that the casino's management exploited his gambling addiction and limited language proficiency.
The Australian claims that The Star has not officially addressed the lawsuit. Following a series of disclosures including money laundering, junket operators, and inadequate corporate governance, the firm was deemed unsuitable to have a casino license in 2022. It has been run under the direction of a manager designated by the government ever since its license was suspended.
Any money made from the case, according to Lee's attorneys, will go to charities that help people with gambling disorders.