SHARM EL SHEIKH, EGYPT | A Saudi prince lost 1.350 Billion Riyals ($359 Million) in six hours as well as five of his nine wives while playing poker at the casino.
Prince Majed bin Abdullah bin Abdulaziz Al Saud is well-known around the world for both his drug and gambling habits, but his latest betting frenzy is quite exceptional even for him.
Spending the week at the renowned Sinai Grand Casino, the Prince spent six hours at the “unlimited stakes” poker table and had an incredible losing streak.
In one evening, he lost hundreds of millions of dollars and was even forced to give up five of his spouses to cover part of his debt.
According to the director of the casino, Ali Shamoon, the prince pawned his wives in exchange for $25M in credit and left them there after he lost. Pawning or selling women is rather rare practice but it is still legal in several Middle Eastern countries.
It is still unclear what will happen to the Prince’s wives and if they will be able to return to Saudi Arabia, and most experts believe that other members of the Saudi Royal family could buy them back discretely over the next few weeks. If not, they will likely be sold at auction in a few months, probably in Yemen or Qatar.
Egyptian Foreign Minister Sameh Shoukry said his government would do everything it could to facilitate the Saudi women’s return to their homeland, as soon as their husband’s debt will be paid.