Uber-wealthy Asian tycoon blows through $60m in days after one of the biggest and fastest casino losses ever in Australia

By KYLIE STEVENS, SENIOR BREAKING NEWS REPORTER, AUSTRALIA Published: 06:21, 7 July 2026 | Updated: 06:27, 7 July 2026 Astonishing new details have emerged of how an Asian tycoon gambled and lost $60million within a matter of days at Crown Perth. Chinese-born Singaporean businessman Huang Youlong was a well-known and wealthy high-roller when he travelled to the Western Australian capital on a junket in February 2015. A lawsuit judgement handed down in the Hong Kong High Court last week provided further insight into how Mr Huang's high-stakes gamble led to a protracted legal battle.  While there are no public records of losses incurred in Australian casinos, the $60million is understood to be one of the biggest amounts lost in the shortest amount of time. Court documents revealed that Crown Perth had initially refused to give Mr Huang credit due to 'substantial gaming debts at other casinos and to other junket operators'. Michelle Chua, then Vice President of Marketing at Crown Melbourne, intervened to arrange an 'internal casino arrangement' for junket operator Suncity to obtain $40million in chips, which meant it would be responsible for recovering any debt. Then married to Chinese movie star Zhao Wei, Mr Huang gambled and lost the $40million within 48 hours. He then obtained an additional $20million in a bid to recoup his losses, which was also blown. Huang Youlong had a daughter with his Chinese star wife, Zhao Wei, before the couple later divorced  Mr Huang's high-stakes gamble at Crown Perth (pictured) resulted in a bitter legal battle played out in a Hong Kong court Despite Mr Huang paying back the $60million principal to Suncity by 2019, he was later sued by Ms Chua, who claimed that she was owed 24 per cent per annum in interest on late payments. Last week's judgement also laid bare explosive details about interim repayments in the months following the massive debt. Mr Huang's personal assistant drew three 'security cheques' worth $11.4million each, according to court documents. One of the cheques later bounced when Ms Chua tried to cash it. Mr Huang also bought a luxury $13.3million mansion in Hong Kong, which he transferred to Ms Chua as 'partial repayment of the indebtedness'. The court also heard that he gave the newly-married Ms Chua an additional $950,000 as a 'wedding gift' for her 'assistance' in managing his gambling debts. Deputy High Court Judge Alan Kwong last week dismissed the lawsuit and ordered Ms Chua to pay legal costs. '(It) does not sit comfortably with basic commercial common sense and ordinary logic of events. I am not persuaded that it is credible,' he ruled. Chinese-born Singaporean businessman Huang Youlong (pictured with movie star ex-wife Zhao Wei) gambled and lost $60million at Crown Perth in 2015 Court documents revealed that Crown Perth had initially refused to give Mr Huang credit due to 'substantial gaming debts at other casinos and to other junket operators' Mr Huang was also slammed by the judge after his legal team informed the court that he was in France and unable to undertake long‑haul travel due to heart problems. An application for Mr Huang to testify by videolink was refused.  'In my view, the medical evidence relied on by the defendants, which was a one-page medical certificate, was wholly unreliable,' Judge Kwong wrote. 'There was no diagnosis; nor was there any medical analysis. The French doctor, who signed the medical certificate, did not even state his professional qualification.' A Royal Commission inquiry in 2022 initially found Crown Resorts unsuitable to run a casino in Western Australia. It ruled that Crown Resorts and its subsidiaries facilitated money laundering at the casino, failed to minimise gambling-related harm and was not open and accountable in its communications with the state regulator. The inquiry followed similar findings in NSW and Victoria.  Crown Resorts later agreed to pay a $450million penalty over historical breaches of Australia's anti-money laundering and terrorism financing laws at its Melbourne and Perth casinos. Huang Youlong and Zhao Wei married in 2008 and divorced in 2021 Actress Zhao Wei publicly confirmed her divorce in December 2024 to distance herself from her ex-husband's legal troubles Crown Perth avoided losing its gaming licence following a massive multi-year remediation program supervised by an independent monitor. The Western Australian government in 2025 deemed Crown Resorts suitable to maintain its Perth casino licence without any conditions or penalties. Zhao and Mr Huang married in 2008 and welcomed the birth of their only child, a daughter, two years later. The couple privately divorced in 2021, which Zhao publicly confirmed three years later to distance herself from her ex-husband's legal troubles.  'I officially divorced Mr Huang many years ago,' she said on Chinese social media platform Weibo in December 2024. 'Our marriage ended legally a long time ago. Any issues, speculation and news reports related to him have nothing to do with me. 'I urge people to recognise this and to avoid dragging me into unfounded claims and reports.'