Man Jumps from Casino Ship to Escape Loan Sharks
Gambling on loan-shark borrowed money is all enjoyable and games unless you lose most of that money and are forced to strip to your skivvies and jump from your floor that is third cabin aboard the casino ship that was the cause of your short-lived fun and subsequent woes, into the frigid waters of Hong Kong’s Victoria Harbor below.
A Chinese national surnamed Lu discovered that out the way that is hard week, in accordance with the china magazine Ming Pao. He allegedly borrowed HK$120,000 (more or less 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 sailing out into international waters, a ploy that is increasingly popular world over.
The ship had been somewhere nearby the Eastern Harbor Crossing Tunnel between Lei Yue Mun and Kwun Tong if the man made their escape attempt (the loan sharks were presumably up to speed with him) after burning through the borrowed money. He wrapped their documents and just what little money he had left in plastic, stripped down, donned a life jacket, and jumped from the screen of his cabin.
Rather than being free to swim to safety and make his wet way house however, he was picked up by another ship, which promptly brought him, soaking and sullen, to a nearby police place, and then after that to a healthcare facility for a check-up.
As the guy was released by police and has not been charged with any crime, the police are undoubtedly minimal of his concerns 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 are thought by you do have a gambling problem? How about $116,000 per on a slots habit month? That is how much Bi Xiaodong, wife of China Medical Technologies (CMT) CEO Wu Xiaodong, is rumored to have moved 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 man from whom she was then separated.
The truth is, you can find those 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. Just What did catch the eye of investigators, however, was the way in which Mrs. Xiaodong 1984 shmoop chapter 1 received the enormous sums to have the ability to manage to play at that level, because one source suggests that she may have passed since 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 footwear or milk to drink); 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 whenever CMT had to shut down, after creditors moved 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 is currently suing Wu Xiaodong in a suit that is civil Ca, alleging that Xiaodong stripped assets from CMT and then fed them surreptitiously to his wife, who in turn went them through the fancy Strip slot machines.
How It Works
Here’s the shell game: the casino lets players cash away from lengthy durations of slot play with a credit note for all of those other money deposited. The ball player can then just take that note to a casino cashier, receive a check for the amount that is remaining deposit said check in their particular bank account, and declare it as ‘gambling winnings’ on their tax statements ( which are then terminated out by the same amount in ‘gambling losses,’ needless to say.)
Reports say that Bi Xiaodong declared close to $17 million on her comes back in victories between 2009 and 2011, with the loss that is ancillary cancel the wins out. But the concerns about where the funds emanated from were what led detectives to look into the CMT cash flow 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 missing money that has been raised throughout the company’s 2005 IPO. Also under investigation are the company’s former finance director Takyung Tsang and his wife.
Could be a full case of dirty laundry.
Macau Gaming Revenues Through the Roof for March
The economy may be crawling back on its stomach everywhere else, but in Macau, money appears to be falling out of this sky, at 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 away 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 reverse side for the Coin
Talk about trickle-down economics: seems the majority of Macau’s casino industry workers are also having a year that is good far. In a 2013 survey known as the Macau Employee Confidence and Satisfaction Index, 1,026 workers responded about their different amounts of job satisfaction, also their overall work self- confidence. Although somewhat down from last year’s Index, the movement downward had been slight sufficient to be able to categorize their emotions as ‘stable’ in the mysterious globe of index rankers.
Casinos Employ Many
With very nearly a third of this survey participants involved in Macau’s booming casino industry, it seems 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. With regards to income, however, croupiers rake into the highest satisfaction 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 winnings? Sure appears like it.
The ahead year
Now it just remains become seen if the rest of 2013 will likely be because profitable as March looks want it will be whenever all the true numbers are totally tallied.
We understand one group particularly 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 award pool of €921,603 (those Euros translate to $1,193,291).
‘We’re delighted in order to launch the Bad that is all-new Beat by having an industry record-breaking reward pool of over €920,000,’ announced Andy Horne, head of poker at BetVictor.
Easier to Win, More Payouts
Suspended earlier this month in order that BetVictor could create a few changes that are positive the structure for its players, the jackpot are now able to be won more effortlessly, with more benefiting from the payout too.
‘Will it reach €1 million? Who knows.? The modifications mean it will be won more often and by more individuals now,’ explained Horne. ‘The current jackpot will dsicover over €90,000 paid out to opted-in players playing at the exact same stakes as the winner, so even though you’re maybe not at the table where it hits, you are able to share into the good fortune, and that’s no bad beat.’
Opt Set for Players
Players trying to take part in the Bad Beat Jackpot now require to make use of the ‘opt-in’ option that exist on all cash tables above €0.10/€0.20, at which point they are going to contribute €0.02 towards the increasing jackpot each hand they play a small price to fund the opportunity to win a chunk of a big prize.
So as to raise 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 happy winner manages to sweep the jackpot up, 10 % of this prize pool is distributed to players who possess 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 now one of the world’s leading independent bookmaking and gaming groups, has established that there are going to be no administration fees involved, so the complete jackpot is going to be distributed to the players involved.
With increased opportunities 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 utilizing the potential for a decent payout.