KUALA LUMPUR (Reuters) - A Malaysian judge on Friday ruled in favour of Wynn Macau in a case against a fund manager who owed the casino millions of dollars, the company's lawyer said, the first time a casino has been allowed to recover dues in the country.
But in the Wynn case against the Malaysian fund manager, the casino's lawyers said they weren't seeking dues from a wagering contract but from a credit agreement that the Malaysian had failed to honour.
Wynn brought the lawsuit against Paul Poh Yang Hong in 2017 for HK$33 million ($4.21 million) he owed the casino.
Poh took a line of credit of HK$40 million from Wynn, and he had paid down to about HK$33 million before Wynn sued him, Vincent Law, Wynn's attorney told Reuters.
Poh had said at an earlier court hearing he was not aware he had signed a credit agreement and that he did not owe the casino HK$40 million.
Judge S. Nantha Balan ruled in chambers on Friday that Poh will have to pay the outstanding amount of HK$33 million plus interest to Wynn, Law told Reuters at a Kuala Lumpur court.
Poh's lawyer declined to comment on the ruling or whether they would appeal.
"If there is no appeal, I believe this judgement today will be the law in Malaysia for the foreseeable future," Law said. "It is a good sign for the whole gaming industry."
($1 = 7.8432 Hong Kong dollars)
(Reporting by Emily Chow, writing by A. Ananthalakshmi; Editing by Michael Perry)
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