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The
New Paper, 3 Apr 04
Casino fever burned this high roller
by
Low Ching Ling
Brewery man Chia Teck Leng gambled much of the $117 million he stole
from banks in casinos. Low
Ching Ling speaks
to one Singapore high roller who blew $10 million dicing
with Lady Luck - and is game for a Singapore casino
HE once lost over a million dollars in a single visit to the casino.
And he didn't bat an eyelid. That was more than six years ago, when
Ben (not his real name) lived a high-stake high life, jet-setting
to casinos around the world. In those days, the 58-year-old semi-retired
businessman said, he didn't think twice about plonking down hundreds
of thousands of dollars on the gaming table.
Speaking to The New Paper on Sunday in his multi-million dollar District
10 bungalow, he said: 'In seven years, I lost over $10 million.' The
millionaire's gambling sprees have taken him to casinos in Las Vegas,
Australia, Macau and Thailand, and on luxury cruise ships. HIGH LIFE
Casinos would roll out the red carpet for them, Ben said. He described
the lavish treatment the casinos dished out on those they regarded
as big spenders, like himself. He used to travel free in casino private
jets and chauffeured limousines, and stay in five-star hotel suites.
'They'd pick us up at the airport, carry our luggage and check our
passports to make sure everything was okay,' Ben recalled. 'They'd
give us the best of everything for free - first-class return air tickets,
presidential suites, high-class entertainment, and almost everything
else.'
These high rollers would gamble away from the crowds, in quiet, luxurious
VIP or VVIP rooms, where they would be waited on hand and foot by
well-dressed staff. 'The rooms were lavishly decorated, with Persian
carpets and expensive chandeliers,' he recalled. The players, whom
the casino staff would know on a first-name basis, were wined and
dined in the finest style. They would also get almost anything they
asked for - from cigarettes and the most expensive wine, to women.
'If you said you wanted to play golf, the casino staff would immediately
book a slot for you,' Ben said.
Ben described the high roller's life as 'mind-boggling', a word he
used several times during the two-hour interview. The owner of three
Mercedes Benzes has also rubbed shoulders with international bigwigs,
royalty, media magnates and banking tycoons. Many members of Singapore's
corporate elite are also regulars, but Ben wouldn't disclose any names.
He said the casinos' top brass also woo their top clients by visiting
their home countries. 'They'd throw lavish dinners and hand out generous
gifts like Rolls-Royces. And they'd also give hongbao for you to cash
in at the casinos the next time you play there.'
Ben's love affair with the world of high-stakes punting started in
1990 when his friends introduced him to it. It turned into a seven-year
addiction.
Addicted to gambling
'The first time you play big, you depend on a group of experienced
players to guide you and hopefully help you make money,' he said.
'But after a while, you're left to fend for yourself.'
Every week, Ben and his friends went on casino junkets all over the
world. (See report at far right.) The father of four, whose favourite
haunts are Mirage and Bellagio in Las Vegas, would usually play Baccarat,
and could spend up to 30 hours gambling in a single sitting. 'I'd
bet from as little as a few thousand dollars to as much as $80,000.'
But, he admitted, Lady Luck rarely smiled on him. 'I've made substantial
losses. I've lost more than $1 million at one sitting before.' His
biggest win of about $400,000 pales in comparison.
Ben said: 'When I win, I tend to ease off. But when I lose, it's as
if I'm losing my pride. Then I tend to play longer, hoping to recover
my losses. But I usually do more damage.' Ben said he had seen many
high rollers lose more money than him. 'They lose $5m or $10m, and
it's nothing to them.'
Gambling is stressful, especially when you are on a losing streak,
he added. 'Even when I went back to my hotel room after a long game,
I couldn't sleep. The image in my mind was still of cards moving around.'
At that point, Ben even gave up the business that he'd made his fortune
in, to concentrate on his habit. Ben admitted he was drawn to the
high life of a big-time punter. 'The casinos and junket operators
pamper you and take really good care of you. They know how to make
you feel good. They introduce you to people and tell others you're
a big businessman from Singapore.'
But in 1997, he decided to give it all up as he was chalking up huge
losses. And his wife, a businesswoman, did not approve of his high-stakes
gambling.
Lower stakes now
Ben, who runs entertainment outlets in Singapore and overseas, said
he rarely visits casinos now. The last time was more than three years
ago. Even when he does go, he'll restrict the amount of money he bets
and the time he spends there. 'I no longer have the means to play
very big, having spent most of my savings on gambling. If I take $100,000,
I'll just play with $100,000. If I lose it all, I'll leave.'
Nowadays, he spends most of his time at home where he plays mahjong
with friends. He showed me his air-conditioned mahjong room, which
is furnished with one triangular table (for three players) and a square
one (for four players). He also proudly held up a mahjong tile made
with good-quality ivory and asked me to feel it. During Chinese New
Year, he invites friends over to play cards. 'But we play small -
only a few hundred dollars.'
But Ben's love affair with casinos has not ended. He is all for the
idea of opening one in Singapore, as broached by the Government last
week. When the topic was raised during the interview, Ben spoke like
an excited schoolboy. He said he would be interested in investing
in it if it was a government-run casino and shares were offered to
the public, or if the Government were to issue licences for private
operators. 'A casino in Singapore would attract many foreign players
and create jobs for the locals. It's also a safe country where everything
goes by law.'
What the Government said
IN a major departure from its past thinking, the Government disclosed
last week that it may allow a casino on one of Singapore's islands
to woo international talent, tourists and investments. It may be part
of plans for a 500-hectare resort and residential development linking
Sentosa by boat or bridge to the Southern Islands 3km away, Trade
and Industry Minister George Yeo had said. But the Government also
indicated that a casino, if built, will have some form of entry restriction
and safeguards.
Get them hooked, get your commission
THEY help casinos recruit high rollers. In turn, the casinos pay these
junket operators a commission, usually a little less than 10 per cent
the amount wagered by the players in a trip. Some operators will pass
part of their commission back to their clients as an incentive. Mike
(not his real name), 45, is one such operator based in Singapore.
He's been in the business for five years. There are also those who
offer to pay for their clients' travelling and hotel expenses, which
means they are not obliged to share their commission with them.
Junket operators, who must first get a licence from the casinos, provide
a 'play-first-pay-later' service for players by creating credit accounts
with the casinos. They are responsible for settling their clients'
losses with the casinos. They get almost the same kind of VIP treatment
as the high rollers they introduce, like being invited to the same
dinners.
There are only about three or four licensed operators in Singapore,
Mike said. His customers include Singaporean, Indonesian and Thai
businessmen. He organises junkets once every fortnight or a month
for a group of seven to 10 people to casinos in Genting Highlands,
Australia, Las Vegas, Macau, Thailand and also on cruise ships. 'I
have met many people who don't have the means but gamble a lot of
money. As a result, they get into trouble. Some resort to breaking
the law, like stealing company funds,' he said. That's why he agrees
with the Government that a casino, if built here, should allow access
only to the well-off. |
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