Adelson’s Singapore Casino Paid a Price for Courting China’s ‘Whales’
Rogue employees at the Marina Bay Sands may have facilitated moving millions of dollars out of prominent accounts.
When Chinese businessman Wang Xi first gambled at Sheldon Adelson’s Marina Bay Sands casino in Singapore, he hit the jackpot, winning $3.7 million. After more wins in later trips, his luck turned sour and he racked up millions in losses. After one particularly tough day in the high-roller room, he threw a water glass at a staff member, and brought his father in to review his accounts, according to documents seen by Bloomberg.
The family probe yielded a windfall of a different sort. In a 2019 lawsuit, Wang claimed the Marina Bay Sands had transferred S$9.1 million ($6.9 million) of his money to third parties in 22 separate transactions without his authorization. The forms for wiring his money weren’t signed by him and appear to have been forged, the originals destroyed, according to the lawsuit. The casino settled the case in June and repaid Wang, without admitting wrongdoing.