A Singaporean businessman has set the gaming world abuzz with news that he recently lost a staggering S$100 million at the two casinos Resorts World Sentosa (RWS) and Marina Bay Sands (MBS).

According to Today newspaper, the tycoon is on the Forbes list of the 40 richest people in Singapore. He is not the only one who’s been losing big — another tycoon from the timber-rich East Malaysian state of Sabah also reportedly lost about S$50 million around the same time.

Together, the duo’s combined losses of S$150 million have set tongues wagging, even among the local high-rollers’ circle.

And lest you think that they are hurting badly from the losses, a high roller who is a regular at both local casinos told the same newspaper, “These guys can well afford the losses.”

Unlike Henry Quek, the local businessman who lost S$26 million at RWS back in June and tried to sue the casino for giving him too much credit, both men have accepted their losses without much fuss.

Quek, who is the managing director of seafood distrbutor, Far Ocean Sea Products, has also reportedly settled his outstanding debts with RWS.

Gaming analysts told The Straits Times that high rollers generally bet at least tens of thousands of dollars a hand.

Also known as “whales”, they usually play baccarat or blackjack at the casinos’ exclusive private rooms. Industry insiders and other players say it is not uncommon to see bets of more than S$300,000 a hand.

Some famous “whales” who lost big time at the tables include Mr Terrance Watanabe, the American owner of a party favours import business, who lost S$165 million during a year-long gambling binge in Las Vegas in 2007.

The late Australian media mogul Kerry Packer, also lost S$26 million in MGM Mirage in Las Vegas during a weekend in July 2o00.

A general rule in the industry is that 20 per cent of the players contribute 80 per cent of the revenue. That means that the fortunes of a few high-rollers at the table can literally make or break the casino’s earnings estimates for that quarter, or even the whole year.

For example, in Mr Packer’s case, analysts raised the estimates for MGM Mirage’s third-quarter earnings for that year.