Live Sports - Sports Updates - Sports Betting

    Major Leagues

Sports Online
Sports Betting
Water Sports
Sports Updates
Major Leagues
Useful Resources
Contact Us
Popular Sites

Titan Bet Free Bonus

Macau Casino Chasing Debts of $4.5m

Unibet review: The eighth richest man in the United States is on that list because he does not suffer fools gladly. Sheldon Adelson is that man, and his Venetian casino, based in Macau, has just taken legal action in a Hong Kong court to recover $4.5 million in gambling debts, owed to the casino by two Chinese High Rollers.

In the first of two cases, according to Hong Kong media, the Venetian has filed a lawsuit with the High Court in Hong Kong to retrieve $3 million from a Chinese businesswoman called Zou Yunyu. The owner of the Shanghai Gaouyan Property Group has an estimated fortune of $220 million. In the second case, the Venetian is chasing debts of up to $1.5 million from Xie Xiaoqing, a businessman and deputy to the provincial legislature in Hubei Province.

Sheldon Adelson is reported to have a $20 billion fortune built up mainly through his gambling interests in both Asia and the United States. The Venetian is one of a quartet of casinos that Adelson’s company, the Las Vegas Sands Corp., owns in Asia. When Adelson is not chasing down Chinese High Rollers he is contributing to the U.S elections. In 2012, reports suggest that Adelson donated a whopping $95 million to Republican candidates.

Last year, the gambling business in Macau earned $38 billion in casino revenue - an increase of 13.5% on the year before. Most of this profit comes from the pockets of the High Rollers who cross the water from the Chinese mainland.