By The Weekly Edge desk ·
Singapore’s High Court blocked Venetian Macau’s attempt to enforce a Hong Kong gambling debt judgment, GGRAsia reported on 7 September. The judgment totalled HKD19.35m, and Venetian Macau holds the casino concession for Sands China.
The ruling prevents Venetian Macau from enforcing its Hong Kong gambling debt judgment in Singapore.
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Singapore’s combined reporting prevents investors from separately assessing casino contributions to growing betting tax receipts.
The decision limits Venetian Macau’s ability to recover the casino debt through Singapore’s courts.
Foreign casinos extending credit to customers with Singapore assets face potential debt recovery risks following a High Court ruling.
Sands China shareholders will receive double the prior-year interim dividend, with the distribution totalling HKD4.05bn.