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Archive for January 20th, 2019

Eric Perry Wins First Gold Ring from Horseshoe Tunica’s Opening Event

Eric Perry survived through a field of 372 entries to win the Horseshoe Tunica Double Stack for his first WSOP Circuit gold ring

The club of WSOP Circuit gold ring winners has just welcomed its new member – Eric Perry, a poker player from Friendswood, Texas. Perry has topped the field of the $400 No-Limit Hold’em Double Stack at Horseshoe Tunica for a first gold ring and a little over $27,000 in prize money.

The brand new gold ring winner was one of the tournament’s 372 entries. The event took place on Thursday to mark the beginning of the WSOP Circuit Horseshoe Tunica stop.

As mentioned above, the Double Stack tournament drew 372 participants who generated a prize pool of $122,760. The money was split among the top 46 finishers. Steven Williams was the first player to leave with a payout. He collected a min-cash of $277 for his run.

Winning the $400 buy-in tournament was not an easy task for Perry. The player ran below average chips for the better part of the event and it was pretty much towards its end when he gained momentum to eventually take it down.

When the field was whittled down to just the unofficial ten-handed final table, Perry was second to last in the temporary leaderboard with 735,000 in chips. Paul Mattioda was the player who occupied the bottom of the chip counts chart with a stack of 380,000, while James Strickland was the chip leader with a comfortable advantage over the rest of the pack and a stack of 1.925 million.

Final Hours of Action

Perry did not have a good start of the unofficial final table and he maintained a below average stack throughout those final hours of play. Commenting on his run, the player said that “it was a big grind” and that all he needed to eventually capture the title was a “couple of good flops.”

The board delivered those good flops and Perry is now a proud holder of a shiny gold ring from the WSOP Circuit. The eventual winner faced Joey Huey heads-up. Huey was going for his first title from the WSOP Circuit. The player is well familiar to the series with 17 cashes from different stops.

However, the Horseshoe Tunica Double Stack title was Perry’s to win. Huey eventually went out in second place, good for his largest cash from the WSOP Circuit of $16,689.

In his post-victory interview, Perry said that he would be around for the rest of the week. He further noted that he has been practicing the game really hard and that Circuit tournaments were a great opportunity to improve his game and get better playing against some really good players.

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The post Eric Perry Wins First Gold Ring from Horseshoe Tunica’s Opening Event appeared first on Casino News Daily.

Wynn Macau Wins Gambling Debt Lawsuit against Malaysian Gambler

In an unprecedented move, Malaysian court allowed Wynn Macau to collect its dues from a gambler

A Malaysian court sided on Friday with Wynn Macau in a multi-million-dollar lawsuit against a fund manager who had gambled at the Macau-based casino and had owed it millions of dollars, Reuters reported citing Wynn’s lawyer.

In an unprecedented ruling, Judge S. Nantha Balan said yesterday that fund manager Paul Poh Yang Hong will have to pay Wynn Macau HK$33 million (approx. $4.21 million) in an outstanding debt to the gambling venue plus interest as a result from his failure to pay his due on time.

Wynn filed a lawsuit against Mr. Poh in 2017. The casino claimed that its gambler had owed it HK$33 million before suing him. The fund manager had been extended a line of credit of HK$40 million to gamble at the property. He had managed to pay down to about HK$33 million before being brought to court.

The Friday ruling was the first time when a casino has been allowed to collect dues from gamblers in Malaysia. The country’s current law does not recognize gambling contracts, which means that casinos do not have legal recourse for the funds they are owed by gamblers.

Friday’s Ruling

In the lawsuit against Mr. Poh, Wynn Macau’s legal team has argued that the casino was not seeking dues from a gambling contract but from a credit agreement the fund manager had agreed to, but had failed to honor afterward.

As mentioned above, Mr. Poh had taken HK$40 million to gamble at Wynn Macau, an amount he had only been able to recover a fraction of. During previous hearings, the fund manager said that he was not aware he had penned a credit agreement and that he did not think he owed money to the Macau-based gambling venue.

In a ruling from yesterday, Judge S. Nantha Balan ruled in favor of Wynn Macau in the case and ordered the gambler the outstanding amount of HK$33 million as well as interest.

Mr. Poh’s lawyer declined to comment on the ruling. It is also still unknown whether the gambler would opt to appeal the court’s decision.

Commenting on the latest development in the case, Wynn Macau’s lawyer, Vincent Law said that if Mr. Poh decides not to appeal the ruling, yesterday’s judgment “will be the law in Malaysia for the foreseeable future.” The lawyer added that the Malaysian court’s decision was good news for the whole gambling industry.

Wynn Macau opened doors in 2006 to become the first Macau-based property of Las Vegas gaming and hospitality powerhouse Wynn Resorts. The company opened its second integrated resort in the gambling mecca – Wynn Palace – in the summer of 2016.

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The post Wynn Macau Wins Gambling Debt Lawsuit against Malaysian Gambler appeared first on Casino News Daily.

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