Taiwanese court orders gambler to repay debts to Melco
The casino operator took legal action over US$41m in gambling losses.
Taiwan.- A Taiwan court has ordered a man to repay over HKD320m (US$41m) to Melco Resorts & Entertainment following a high-stakes gambling spree in 2019. The man, reportedly from the Shilin district of Taipei City, had secured a credit limit of HKD100m from the casino operator but had it raised to HKD300m in an agreement that stipulated that overdue repayments would incur interest at three times the statutory rate.
After losing all his chips, the man, identified as Mr. Ku, refused to settle his debt, prompting the gaming company to file a lawsuit in Taiwan. Ku’s lawyer argued that the non-transferable chips provided by the casino did not constitute cash and did not meet the legal criteria for a loan.
They also contended that video evidence presented by the casino failed to confirm the time and place of the gambling activities, making it difficult to substantiate the legality of the loan. The defence also argued that the high interest rate on the debt could violate Taiwanese civil law.
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However, the court ruled in favor of Melco, stating that Ku, as an adult, had the full capacity to understand and sign the loan contract. The judge also said Ku could not claim ignorance of Macau’s gambling regulations and ordered him to repay over HKD 320m with an interest rate of 29.25 per cent.
