Man Jumps from Casino Ship to Escape Loan Sharks
Gambling on loan-shark borrowed cash is all enjoyable and games before you lose every one of that money and are forced to strip to your skivvies and jump from your 3rd floor cabin window aboard the casino ship that has been 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 the way that is hard week, in accordance with the oriental magazine Ming Pao. He presumably borrowed HK$120,000 (approximately US$15,460) from loan sharks and embarked on 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 ever more popular ploy the world over.
The ship was somewhere near the Eastern Harbor Crossing Tunnel between Lei Yue Mun and Kwun Tong if the man made his escape attempt (the loan sharks had been presumably on board with him) after burning through the lent money. He wrapped his documents and what little cash 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 their damp way home however, he had been found by another ship, which immediately brought him, soaking and sullen, to a police that is nearby, and then from there to the hospital for a check-up.
As the man was released by police and hasn’t been charged with any crime, the police are undoubtedly minimal 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 just how much Bi Xiaodong, wife of China Medical Technologies (CMT) CEO Wu Xiaodong, is rumored to have moved into the roller that is high 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.
Surprisingly, there are people who throw money around at that crazy level in Vegas, so gambling $5K a hand at slots orwell 1984 summary by itself most likely wouldn’t normally have raised too numerous eyebrows. What did catch the eye of investigators, however, was the way that Mrs. Xiaodong received the sums that are enormous manage to afford 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 relevant question of whether her kids had shoes or milk to drink); and maintains she separated from Wu in 2001 and had nothing to do with his business CMT since before its IPO in 2005 in the New York Stock market.
It ended up being summer that is last 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 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 went them through the fancy Strip slots.
How It Works
Here’s the shell game: the casino allows players cash away from lengthy durations of slot play with a credit note for the remainder cash deposited. The gamer can then take that note to a casino cashier, receive a look for the remaining quantity, deposit said sign in their particular bank account, and declare it as ‘gambling winnings’ on their taxation statements ( that are then cancelled down by the same quantity in ‘gambling losses,’ of course.)
Reports say that Bi Xiaodong declared close to $17 million on her comes back in wins between 2009 and 2011, with the ancillary loss to cancel the wins out. But the questions about where the amount of money emanated from were what led detectives to look into the cash that is CMT possibility, and the risk of money laundering of CMT’s massive IPO funds.
Now CMT’s liquidators are attempting to monitor some $670 million in missing money that has been raised during the business’s 2005 IPO. Also under investigation would be the company’s former finance director Takyung Tsang and their wife.
Could be a case of dirty laundry.
Macau Gaming Revenues Through the Roof for March
The economy may still be crawling back on its stomach every-where else, however in Macau, money seems to be falling out in clumps of the sky, at the least for its lucrative casino industry.
A J.P. Morgan analyst estimates that March gross Macau gaming revenues for the world’s most successful gambling destination ever will top out at $3.67 billion, a new month-to-month record even for Macau. Using the last monthly tallies not really in yet, it’s 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 expansion of Asian whales, a sector that appears to possess exploded by having a 15 to 20 percent development rate in 2010.
On the Other Side regarding the Coin
Talk about trickle-down economics: seems the majority of Macau’s casino industry workers are also having a good year so far. In a 2013 study referred to as Macau worker Confidence and Satisfaction Index, 1,026 employees responded about their various levels of job satisfaction, also their overall task confidence. Although somewhat down from final year’s Index, the movement downward had been discreet sufficient in order to categorize their emotions as ‘stable’ in the mysterious world of index rankers.
Casinos Employ Many
With almost a third associated with survey respondents involved 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 away from the entire gaming employee group. As it pertains to income, however, croupiers rake in the highest satisfaction of any of workers, gaming and non-gaming alike. Could all those incredibly wealthy Asian whales be both impossibly demanding and additionally great tippers when they win? Sure feels like it.
The Approaching Year
Now it just remains become seen in the event that rest of 2013 are going to be since lucrative as March appears like it will be whenever all the numbers are totally tallied.
We know 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’re delighted in order to launch the Bad that is all-new Beat 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 so that BetVictor could create a few positive changes to the structure because of 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 understands.? The changes mean it will often be won more and by more folks now,’ explained Horne. ‘The present jackpot will see over €90,000 paid out to opted-in players playing at exactly the same stakes as the winner, so even though you’re maybe not during the table where it strikes, you’ll share in the good fortune, and that’s no bad beat.’
Opt In for Players
Players seeking to be involved in the Bad Beat Jackpot now need to use the ‘opt-in’ option that exist 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 order to increase the chances of winning, the new qualifying hand has been paid off from four-of-a-kind eights, to four-of-a-kind deuces.
Whenever the lucky winner manages to sweep up the jackpot, 10 % of the prize pool will be distributed to players who possess opted in at the stake level at which the jackpot is hit.
It’s All Your Own
In addition, BetVictor, which ended up being created in 1946 and is becoming one of many world’s leading bookmaking that is independent gaming groups, has established that there will be no administration fees involved, therefore the complete jackpot are 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 own its flooding gates battered down by those looking to play on low-stakes tables using the potential for a decent payout.