According to an Associated Press story, Konstantin Zoggolis, a high roller from Germany, sued Wynn Las Vegas on Wednesday in an attempt to block criminal charges against him due to unpaid gambling debts.
Zoggolis charged that he had been a patron at the Wynn for five years and in November 2008, he and the casino had agreed to limit his credit line to $250,000.
Despite this alleged agreement, Wynn is trying to recover $1.3 million from Zoggolis. This company said the debt was initiated by 11 gambling markers which issued to Zoggolis during September and October of 2010. The markers are negotiable instruments that are similar to checks and since they have not been paid, Wynn was able to press bad check charges against Zoggolis.
According to the lawsuit, “By failing to limit plaintiff’s credit line to $250,000, defendant was in material breach of the credit agreement such that plaintiff’s duty to repay any markers in excess of $250,000 was discharged under common law contract principles. Defendant made this promise for the purpose of ensuring responsible gaming.”
The lawsuit seeks and injunction which will keep Wynn from proceeding with criminal charges against Zoggolis.