Man Jumps from Casino Ship to Escape Loan Sharks
Gambling on loan-shark borrowed cash is all enjoyable and games and soon you lose all of that money and are forced to remove to your skivvies and jump from your own 3rd floor cabin window aboard the casino ship that has been the explanation for 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 Chinese language paper Ming Pao. He allegedly borrowed HK$120,000 (more or less US$15,460) from loan sharks and embarked for a evening 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 increasingly popular ploy the world over.
The ship had been somewhere close to the Eastern Harbor Crossing Tunnel between Lei Yue Mun and Kwun Tong whenever man made their escape effort (the loan sharks had been presumably up to speed with him) after burning through the lent cash. He covered his papers and exactly what money that is little 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 their damp way home however, he had been found by another ship, which immediately brought him, soaking and sullen, to a nearby police station, and then from there to a healthcare facility for a check-up.
While the guy premiered by authorities and has not been charged with any crime, law enforcement are undoubtedly minimal of his worries at the moment, as he still has a formidable gambling debt hanging over his mind, and likely some extremely angry people searching for him over it; people who probably weren’t particularly impressed by his decision to go for a late night swim.
Chinese Laundry Through the Slots: Money Laundering Alleged for Med Tech Firm
You are thought by you’ve got a gambling issue? What about $116,000 per month on a slots habit? That’s just 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 a whopping allowance from the person from whom she was then separated.
Surprisingly, you will find people who throw money around at that crazy level in Vegas, so gambling $5K a hand at slots per se most likely will never have raised too numerous eyebrows. Just What did catch the attention of investigators, however, was the way that Mrs. Xiaodong received the sums that are enormous have the ability to manage to play at that level, because one source suggests 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 question of whether her kids had footwear 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 ended up being last summer when 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 now suing Wu Xiaodong in a civil suit in 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 out from lengthy periods 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, get a search 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 wins between 2009 and 2011, with the loss that is ancillary cancel the wins out. But the concerns about where the money emanated from were what led detectives to look into the CMT cash flow possibility, and the possibility for money laundering of CMT’s massive IPO funds.
Now CMT’s liquidators are attempting to monitor some $670 million in lacking cash that has been raised through the company’s 2005 IPO. Also under investigation will be the company’s previous finance director Takyung Tsang and their 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 every-where else, however in Macau, money appears to be falling out in clumps regarding the sky, at least for its casino that is lucrative industry.
A J.P. Morgan analyst estimates that March gross Macau video gaming revenues for the world’s most successful gambling destination ever will top away at $3.67 billion, a brand new monthly 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 of the Coin
Talk about trickle-down economics: seems nearly all of Macau’s casino industry workers are also having a year that is good far. In a 2013 survey referred to as Macau Employee self-esteem and Satisfaction Index, 1,026 employees responded about their different levels of job satisfaction, also their overall work self- confidence. Although somewhat down from final year’s Index, the movement downward ended up being discreet enough in order 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 working in Macau’s booming casino industry, it would appear that non-casino employees have ever-so-slightly higher job satisfaction than their casino worker counterparts, with croupiers posting the lowest satisfaction out of the entire gaming employee team. When considering to income, however, croupiers rake within the greatest satisfaction of any of workers, gaming and non-gaming alike. Could all those extremely wealthy Asian whales be both impossibly demanding and also great tippers whenever they winnings? Sure appears like it.
The ahead year
Now it just remains become seen in the event that rest of 2013 are going to be because profitable as March appears want it will be when all the numbers are totally tallied.
We know one group especially whom is wishing for continued wide range to come hit 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 reward pool of €921,603 1984 book chapters (those Euros translate to $1,193,291).
‘We’re delighted in order to launch the Bad that is all-new Beat having an industry record-breaking prize pool of over €920,000,’ announced Andy Horne, head of poker at BetVictor.
Simpler to Win, More Payouts
Suspended earlier this thirty days to make certain that BetVictor could make a few changes that are positive the structure for its players, the jackpot can now be won more easily, with more benefiting from the payout too.
‘Will it achieve €1 million? Who knows.? The changes mean it will be won more often and by more individuals 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 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 looking to be involved in the Bad Beat Jackpot now require to use 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 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 lucky winner manages to sweep the jackpot up, 10 percent associated with prize pool are going to be distributed to players who possess opted in at the stake level at which the jackpot is hit.
It’s All Yours
In addition, BetVictor, which ended up being established in 1946 and became one of the planet’s leading bookmaking that is independent gaming groups, has announced that there is no administration fees involved, so the complete jackpot is going to be distributed towards the 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 own its flooding gates battered down by those looking to play on low-stakes tables using the chance of a payout that is decent.