Man Jumps from Casino Ship to Escape Loan Sharks
Gambling on loan-shark borrowed cash is all enjoyable and games until you lose each of that money and are forced to remove to your skivvies and jump from your own third flooring cabin window aboard the casino ship which was the cause of your short-lived fun and subsequent woes, into the frigid waters of Hong Kong’s Victoria Harbor below.
A Chinese nationwide surnamed Lu found that out of the way that is hard week, in accordance with the Chinese language paper Ming Pao. He allegedly borrowed HK$120,000 (more or less US$15,460) from loan sharks and embarked on a night of gambling aboard the casino ship, which skirts (or rather sails) around Hong Kong’s strict gambling laws by sailing out into international waters, a ploy that is increasingly popular world over.
The ship had been somewhere near the Eastern Harbor Crossing Tunnel between Lei Yue Mun and Kwun Tong when the man made his escape attempt (the loan sharks were presumably up to speed with him) after burning through the borrowed money. He covered their papers and just what little money he had left in plastic, stripped down, donned a life coat, and jumped from the screen of his cabin.
Rather than being free to swim to safety and make their wet way home however, he was found by another ship, which promptly brought him, soaking and sullen, to a nearby police station, and then from there to the hospital for a check-up.
Although the guy premiered by police and hasn’t been charged with any crime, the police are certainly the least of his worries at the moment, over it; people who probably weren’t particularly impressed by his decision to go for a late night swim as he still has a formidable gambling debt hanging over his head, and likely some very angry people looking for him.
Chinese Laundry Through the Slots: Money Laundering Alleged for Med Tech Firm
You think you have a gambling issue? Think about $116,000 per on a slots habit month? That’s exactly how much Bi Xiaodong, wife of China Medical Technologies (CMT) CEO Wu Xiaodong, is rumored to have pumped into the high roller slot machines at Las Vegas’ upscale Wynn and Bellagio casinos between 2005 and 2010, playing with an astonishing allowance from the person from whom she was then separated.
The truth is, there are individuals who throw money around at that crazy level in Vegas, so betting $5K a hand at slots by itself probably will never have raised too numerous eyebrows. Exactly What did catch the eye of investigators, however, was the way in which Mrs. Xiaodong received the sums that are enormous manage to manage to play at that level, because one source suggests that she might have passed as much as $62 million through the Bellagio slots alone between 2008 and 2012.
The Missus claims she got her gambling money allowance from child care and for living expenses (begging the question of whether her kids had shoes or milk to take in); and maintains she separated from Wu in 2001 and had absolutely nothing to do with his business CMT since before its IPO in 2005 on the New York Stock market.
It was last summer when CMT had to shut straight down, after creditors relocated in to get missing interest re payments from the company, forcing them into liquidation. Those bondholders included GLG Partners, a London firm that manages $26.4 billion in assets; GLG happens to be suing Wu Xiaodong in a suit that is civil California, alleging that Xiaodong stripped assets from CMT and then fed them surreptitiously to his wife, who in turn ran them through the fancy Strip slots.
How It Works
Here’s the shell game: the casino lets players cash down from lengthy periods of slot play with a credit note for the remainder money deposited. The player can then simply take that note to a casino cashier, get a search for the remaining amount, deposit said check in their bank account, and declare it as ‘gambling winnings’ on their tax statements ( which are then cancelled away by the same quantity in ‘gambling losses,’ 1984 chapter of course.)
Reports say that Bi Xiaodong declared near to $17 million on her comes back in victories between 2009 and 2011, with the ancillary loss to cancel the wins out. But the questions about where the money emanated from were what led investigators to look into the cash that is CMT possibility, and the possibility of money laundering of CMT’s massive IPO funds.
Now CMT’s liquidators are wanting to track some $670 million in missing money that has been raised during the company’s 2005 IPO. Also under investigation would be the company’s former finance director Takyung Tsang and their wife.
Might be a case of dirty laundry.
Macau Gaming Revenues Through the Roof for March
The economy may still be crawling back on its belly every-where else, but in Macau, money appears to be falling out of this sky, at the least for its lucrative casino industry.
A J.P. Morgan analyst estimates that March gross Macau video gaming revenues for the world’s most gambling that is successful ever will top down at $3.67 billion, a new month-to-month record even for Macau. A sector that appears to have exploded with a 15 to 20 percent growth rate this year with the final monthly tallies not even in yet, it’s predicted that final intakes could end up at a 25 percent increase over the same time in 2012, and it looks like that’s thanks to a proliferation of Asian whales.
On the Other Side of the Coin
Talk about trickle-down economics: seems nearly all of Macau’s casino industry employees are also having a good year so far. In a 2013 study referred to as Macau Employee Confidence and Satisfaction Index, 1,026 employees responded about their various levels of job satisfaction, along with their overall task confidence. Although slightly down from last year’s Index, the movement downward had been delicate sufficient to help you to categorize their emotions as ‘stable’ in the mysterious globe of index rankers.
Casinos Employ Many
With almost a third of the survey participants working in Macau’s booming casino industry, it appears that non-casino employees have ever-so-slightly higher job satisfaction than their casino worker counterparts, with croupiers publishing the lowest satisfaction out of the entire gaming employee group. In regards to income, however, croupiers rake into the greatest satisfaction of any of workers, gaming and non-gaming alike. Could all those incredibly wealthy Asian whales be both impossibly demanding and tippers that are also great they win? Sure sounds like it.
The Year Ahead
Now it just remains to be seen in the event that rest of 2013 are going to be since profitable as March looks enjoy it will be when all the true numbers are totally tallied.
We know one group especially whom is wishing for continued wealth to come strike the tables in Macau: the croupiers.
Record-Breaking Poker Jackpot Relaunched
BetVictor Poker recently revamped and relaunched its massive Bad Beat Poker Jackpot with a record-breaking prize pool of €921,603 (those Euros translate to $1,193,291).
‘we are delighted in order to launch the all-new Bad Beat Jackpot having an industry record-breaking award pool of over €920,000,’ announced Andy Horne, head of poker at BetVictor.
Easier to Win, More Payouts
Suspended earlier this month to ensure BetVictor could create a few positive changes to the structure for the players, the jackpot can now be won more easily, with more benefiting from the payout too.
‘Will it achieve €1 million? Who knows.? The modifications mean it will be won more often and by more people now,’ explained Horne. ‘The current jackpot will dsicover over €90,000 paid out to opted-in players playing at the same stakes as the winner, so even although you’re not during the table where it strikes, it is possible to share into the good fortune, and that’s no bad beat.’
Opt Set for Players
Players looking to participate in the Bad Beat Jackpot now require to use the ‘opt-in’ option that you can get on all money tables above €0.10/€0.20, Each hand they play a small price to pay for the chance to win a chunk of a big prize at which point they will contribute €0.02 to the increasing jackpot.
In order to increase the chances of winning, the new hand that is qualifying been reduced from four-of-a-kind eights, to four-of-a-kind deuces.
When the lucky winner manages to sweep the jackpot up, 10 percent for the prize pool are going to be distributed to players who possess opted in at the stake degree at which the jackpot is hit.
It’s All Your Own
In addition, BetVictor, which was established in 1946 and is one of the planet’s leading bookmaking that is independent gaming groups, has established that there are no administration fees involved, so the complete jackpot will be distributed to your players involved.
With increased possibilities of winning, and a record-breaking reward pool of almost one million euros just waiting to burst, BetVictor is certainly going to have its flooding gates battered down by those looking to play on low-stakes tables with all the chance of a decent payout.