Crown Exec’s Failed Attempt to Claim Interest on $41M Casino Debt from Chinese Billionaire

Background of the Dispute

Chua Eh Fong, the former vice president of marketing at Crown Resorts, sought to recover interest on a significant gambling debt incurred by Chinese billionaire Huang Youlong. Huang had amassed a debt totaling AUD 60 million (approximately $41.6 million) at Crown Perth in 2015.

Hong Kong Court’s Decision

The Hong Kong Deputy High Court, presided over by Judge Alan Kwong, rejected Chua’s claim for charging a 24% annual interest on the debt repaid by Huang to the junket operator Suncity. Chua alleged she had oral agreements with Huang allowing her to impose this interest rate on overdue amounts.

However, the court found significant inconsistencies in Chua’s claims, including contradicting messages she sent via WeChat years before the lawsuit. The judge also dismissed Huang’s absence due to medical reasons as unreliable, and noted Chua failed to mention the interest claim during a 2016 settlement meeting involving Suncity’s founder, Alvin Chau. Consequently, the court considered her interest claim as an afterthought and ordered her to cover legal costs, closing the long-standing legal battle stemming from Huang’s gambling losses.

Details of Huang’s Gambling Debt

Huang’s debt accumulation occurred rapidly in early 2015. Upon arriving at Crown Perth with existing gambling debts, he was denied further credit by the casino. Chua facilitated an AUD 40 million credit facility through Suncity, which Huang lost in just two days. He then secured an additional AUD 20 million under the same terms, which was also lost within 48 hours.

To repay the debt, Huang issued three checks around AUD 11 million each, although one check was bounced. He also transferred ownership of a mansion in Hong Kong valued at AUD 13.3 million and gave Chua AUD 950,000 as a wedding gift in appreciation of her debt management aid. By late 2019, Huang had fully repaid the AUD 60 million owed to Suncity, which issued a release deed.

Additional Context

In related news from Hong Kong, local authorities arrested 125 individuals suspected of running a gambling operation connected to triad groups.