Venetian Macau sues 2 gamblers over $4.5M in debts
In this Dec. 18, 2007 file photo, visitors queue up for entry of the new MGM Grand Macau casino resort after the opening ceremony in Macau. The Chinese arm of U.S. casino company MGM Resorts International won official approval for its new casino-resort in the world’s most lucrative gambling market, Macau. Notice of MGM China’s plan to build a US$2.5 billion resort in the Cotai district was published Wednesday, Jan. 9, 2013 in Macau’s official government gazette. (AP Photo/Vincent Yu, File)
HONG KONG—U.S. billionaire Sheldon Adelson’s flagship Macau casino is suing two mainland Chinese high-rollers over gambling debts worth millions.
The Venetian Macau took legal action in a Hong Kong court this week to recover about $4.5 million in the two separate cases.
In one, the Venetian is trying to recover 23.4 billion Hong Kong dollars ($3 million) from Zou Yunyu, who Forbes estimated in 2008 was worth $302 million.
In the second case, the Venetian is pursuing HK$11.3 million ($1.5 million) from Xie Xiaoqing, who Hong Kong media reports said Friday was a Chinese provincial government official.
Macau’s rise as the world’s top gambling market has been powered by wealthy mainland Chinese gamblers. But the lawsuits highlight the difficulties in collecting debts if they return to China.
