A Chinese-born Singaporean businessman identified as Huang Youlong lost approximately $60 million within days at Crown Perth casino in February 2015, a period that appears to be one of the largest and fastest casino losses recorded in Australia. The details of this high-stakes gambling and the subsequent legal fallout were revealed in a lawsuit judgment from the Hong Kong High Court.
Crown Perth initially declined to extend credit to Mr. Huang, citing his existing substantial gaming debts with other casinos and junket operators. However, an 'internal casino arrangement' was made by Michelle Chua, then Vice President of Marketing at Crown Melbourne, allowing junket operator Suncity to provide Mr. Huang with $40 million in chips. Suncity would then assume responsibility for recovering any debt incurred.
Within 48 hours, Mr. Huang lost the $40 million. He subsequently obtained an additional $20 million in a bid to recoup his losses, which he also lost. Despite repaying the $60 million principal to Suncity by 2019, Mr. Huang became involved in a legal dispute with Ms. Chua. She claimed she was owed 24 percent annual interest on late payments.
The legal proceedings uncovered interim repayments, including three 'security cheques' worth $11.4 million each provided by Mr. Huang's personal assistant. One of these cheques later bounced. As partial repayment, Mr. Huang transferred a $13.3 million mansion in Hong Kong to Ms. Chua. He also reportedly gave her an additional $950,000 as a wedding gift for her role in managing his gambling debts.
In a ruling last week, Deputy High Court Judge Alan Kwong dismissed the lawsuit and ordered Ms. Chua to pay legal costs. Judge Kwong expressed skepticism about the credibility of the case, stating it did not align with commercial common sense. The court also considered medical evidence provided by Mr. Huang's defense, which claimed he was in France and unable to travel long-haul due to heart problems. Judge Kwong found this medical evidence, a one-page certificate without a diagnosis or medical analysis, to be wholly unreliable.
This incident occurred against a backdrop of scrutiny for Crown Resorts. A Royal Commission inquiry in 2022 found Crown Resorts unsuitable to operate a casino in Western Australia, citing issues with money laundering, failure to minimize gambling harm, and lack of transparency with regulators. These findings followed similar conclusions in New South Wales and Victoria. Crown Resorts later agreed to a $450 million penalty for breaches of anti-money laundering laws at its Melbourne and Perth casinos. Crown Perth ultimately retained its gaming license after implementing a remediation program.
Mr. Huang was married to Chinese movie star Zhao Wei from 2008 until their private divorce in 2021. Ms. Zhao publicly confirmed their divorce in December 2024, stating that any issues or reports related to Mr. Huang were unrelated to her.