Casino operator Melco Resorts & Entertainment Limited has filed a lawsuit with Macau’s civil court for debt collection involving MOP330 million, according to a statement released last month by the Lower Court.
The court statement reveals that the lawsuit’s defendant is surnamed Ku and Allin Media have learnt from different sources that the defendant is a high-roller from Taiwan who had spent more than six months in Macau at the start of the global Covid-19 pandemic in early 2020.
In an exclusive story back in 2020, Allin Media reported that nearly 30% of the Macau government’s May gaming tax revenues came from one Taiwanese high-roller alone. This big spender, surnamed Ku, is believed to be the same person mentioned in Melco’s lawsuit.
In the early months of 2020, several casinos in Macau had tried their best to attract Ku to play at their facilities. Melco was no exception and it offered super VIP treatments to Ku, including asking the chef at Ku’s favourite restaurant to be on round-the-clock standby.
According to informed sources, the loan made by Melco to Ku was approved by someone from top management, and the credit amount was MOP500 million, way more than the sum stated in the lawsuit.
Ku is a deep-pocketed tycoon and a frequent visitor to different casinos around the world who spends millions at the gaming table each year, according to people familiar with Ku.
It is rumoured that Ku has refused to repay the loan because he is unhappy about something Melco has done to him.