Man Jumps from Casino Ship to Escape Loan Sharks
Gambling on loan-shark borrowed cash is all fun and games before you lose all of that money and are forced to remove to your skivvies and jump from your own 3rd flooring cabin window aboard the casino ship which was the explanation for 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 hard way final week, according to the Chinese language paper Ming Pao. He presumably borrowed HK$120,000 (approximately US$15,460) from loan sharks and embarked for a night of gambling aboard the casino ship, which skirts (or rather sails) around Hong Kong’s strict gambling laws by cruising out into international waters, a ever more popular ploy the world over.
The ship had been someplace near the Eastern Harbor Crossing Tunnel between Lei Yue Mun and Kwun Tong as soon as the man made his escape effort (the loan sharks had been presumably on board with him) after burning through the borrowed money. He covered their documents and exactly what little cash 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 his wet way house however, he had been picked up by another ship, which quickly brought him, soaking and sullen, to a police that is nearby, and then from there to a healthcare facility for a check-up.
As the man was released by police and has not been charged with any crime, the authorities are surely 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 do have a gambling problem? Think about $116,000 per month on a slots habit? That’s how much Bi Xiaodong, wife of China Medical Technologies (CMT) CEO Wu Xiaodong, is rumored to have pumped into the roller that is high machines at Las Vegas’ upscale Wynn and Bellagio casinos between 2005 and 2010, playing with a whopping allowance from the man from whom she was then separated.
Contrary to popular belief, there 1984 quick summary are individuals who throw money around at that crazy level in Vegas, so betting $5K a hand at slots per se most likely will never have raised too many eyebrows. Exactly What did catch the interest of investigators, however, was the way that Mrs. Xiaodong received the sums that are enormous be able to manage to play at that level, because one source shows that she could 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 as well as for living expenses (begging the relevant 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 regarding the New York Stock Exchange.
It was last summer whenever CMT had to shut straight down, after creditors relocated in to get missing interest payments from the company, forcing them into liquidation. Those bondholders included GLG Partners, a London firm that manages $26.4 billion in assets; GLG is currently suing Wu Xiaodong in a civil suit in California, alleging that Xiaodong stripped assets from CMT and then fed them surreptitiously to his wife, who in turn went 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 rest of the cash deposited. The gamer can then take that note to a casino cashier, receive a look for the remaining quantity, deposit said check in their bank account, and declare it as ‘gambling winnings’ on their taxation statements ( which are then terminated away by the same amount in ‘gambling losses,’ needless to say.)
Reports say that Bi Xiaodong declared close to $17 million on her returns in victories between 2009 and 2011, with the ancillary loss to cancel the wins out. But the questions about where the cash emanated from were what led investigators to look into the cash that is CMT possibility, and the probability of money laundering of CMT’s massive IPO funds.
Now CMT’s liquidators are wanting to track some $670 million in lacking money which was raised throughout the company’s 2005 IPO. Also under investigation will be the company’s former finance director Takyung Tsang and his wife.
Might be a full case of dirty laundry.
Macau Gaming Revenues Through the Roof for March
The economy may nevertheless be crawling back on its belly everywhere else, however in Macau, cash seems to be falling out of this sky, at the least for its lucrative casino industry.
A J.P. Morgan analyst quotes that March gross Macau gaming revenues for the world’s most gambling that is successful ever will top away at $3.67 billion, a brand new month-to-month record even for Macau. With all the last monthly tallies not really in yet, it is predicted that last intakes could end up at a 25 per cent enhance over the same amount of time in 2012, and it looks like that’s thanks to a proliferation of Asian whales, a sector that appears to have exploded with a 15 to 20 % development rate in 2010.
On the Other Side associated with 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 survey known as the Macau worker Confidence and Satisfaction Index, 1,026 employees responded about their different levels of job satisfaction, also their job that is overall confidence. Although somewhat down from final year’s Index, the movement downward had been subtle sufficient to help you to categorize their emotions as ‘stable’ in the mysterious world of index rankers.
Casinos Employ Many
With very nearly a third of the survey respondents employed 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 team. In regards to income, however, croupiers rake in the satisfaction that is highest of any of workers, gaming and non-gaming alike. Could all those extremely wealthy Asian whales be both impossibly demanding and tippers that are also great they win? Sure feels like it.
The ahead year
Now it just remains to be seen in the event that rest of 2013 is going to be since lucrative as March looks want it will be when all the numbers are completely tallied.
We understand one group particularly who is wishing for continued wide range 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 prize that is record-breaking of €921,603 (those Euros translate to $1,193,291).
‘we are delighted in order to introduce the all-new Bad Beat Jackpot with an industry record-breaking prize pool of over €920,000,’ announced Andy Horne, head of poker at BetVictor.
More straightforward to Win, More Payouts
Suspended earlier this month to ensure that BetVictor could produce a few positive changes to the structure for its players, the jackpot is now able to be won more effortlessly, with more benefiting from the payout too.
‘Will it achieve €1 million? Who knows.? The modifications mean it will be won more regularly and by more folks now,’ explained Horne. ‘The present jackpot will discover over €90,000 paid out to opted-in players playing at similar stakes as the winner, so even though you’re perhaps not at the table where it hits, you are able to share within the good fortune, and that is no bad beat.’
Opt Set for Players
Players seeking to participate in the Bad Beat Jackpot now need to utilize the ‘opt-in’ option which can be found on all cash 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 an effort to increase the chances of winning, the new hand that is qualifying been paid down from four-of-a-kind eights, to four-of-a-kind deuces.
Whenever the lucky winner manages to sweep the jackpot up, ten percent of the award pool are going to be distributed to players who have opted in during the stake degree at which the jackpot is hit.
It’s All Your Own
In addition, BetVictor, which was established in 1946 and is becoming one of many earth’s leading independent bookmaking and gaming groups, has established that there will be no administration fees involved, so the complete jackpot is going to be distributed to the players involved.
With increased possibilities of winning, and a record-breaking award pool of almost one million euros just waiting to burst, BetVictor is certainly going to own its flooding gates battered down by those looking to play on low-stakes tables with the chance of a decent payout.