Man Jumps from Casino Ship to Escape Loan Sharks
Gambling on loan-shark borrowed cash is all enjoyable and games until such time you lose all of that money and are forced to strip to your skivvies and jump from your own 3rd floor cabin window aboard the casino ship which was the reason 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, according to the china newspaper Ming Pao. He presumably 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 was someplace near the Eastern Harbor Crossing Tunnel between Lei Yue Mun and Kwun Tong if the man made their escape effort (the loan sharks were presumably on board with him) after burning through the lent money. He covered their documents and just 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 their wet way home however, he had been picked up by another ship, which immediately brought him, soaking and sullen, to a nearby police station, and then after that to a healthcare facility for a check-up.
While the guy premiered by police and hasn’t been charged with any crime, law enforcement are undoubtedly minimal of his worries at present, as he still has a formidable gambling debt hanging over their head, and likely some very angry people searching for him over it; individuals who probably weren’t particularly impressed by his decision to buy a late night swim.
Chinese Laundry Through the Slots: Money Laundering Alleged for Med Tech Firm
You are thought by you do have a gambling problem? 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 roller that is high 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.
Believe it or not, there are individuals who throw money around at that crazy level in Vegas, so betting $5K a hand at slots by itself most likely will never have raised too many eyebrows. Exactly What did catch the interest of investigators, however, was the way in which Mrs. Xiaodong received the enormous sums to have the ability to afford to play at that level, because one source shows that she might 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 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 Exchange.
It had been summer that is last CMT had to shut straight 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 has become 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 ran them through the fancy Strip slot machines.
How It Works
Here’s the shell game: the casino lets players cash down from lengthy durations of slot play with a credit note for the remainder money deposited. The player can then take that note to a casino cashier, get a search for the amount that is remaining deposit said sign in their own bank account, and declare it as ‘gambling winnings’ on their tax returns ( which are then cancelled out 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 concerns about where the money emanated from were what led detectives to look into the cash that is CMT possibility, and the chance for money laundering of CMT’s massive IPO funds.
Now CMT’s liquidators are trying to monitor some $670 million in lacking cash that has been raised through the business’s 2005 IPO. Also under investigation are the company’s previous 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 still be crawling back on its stomach everywhere else, however in Macau, cash appears to be falling out of this sky, at the least for its casino that is lucrative 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 brand new month-to-month record even for Macau. Aided by the final monthly tallies not in yet, it’s predicted that last intakes could end up at a 25 per cent enhance over the exact same amount of time in 2012, and it looks like that is as a result of a proliferation of Asian whales, a sector that appears to possess exploded with a 15 to 20 per cent growth rate this present year.
On the Other Side regarding the Coin
Talk about trickle-down economics: seems the majority of Macau’s casino industry employees are also having a year that is good far. In a 2013 study referred to as Macau Employee Confidence and Satisfaction Index, 1,026 workers responded about their different levels of job satisfaction, along with their overall task confidence. Although somewhat down from final year’s Index, the movement downward had been slight enough to help you to categorize their feelings as ‘stable’ in the mysterious world of index rankers.
Casinos Employ Many
With nearly 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 out of the entire gaming employee group. When it comes to income, however, croupiers rake into the highest satisfaction of any of workers george orwell 1984 summary, 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 sounds like it.
The Approaching Year
Now it just remains to be seen if the rest of 2013 will likely be as profitable as March looks enjoy it will be when all the numbers are completely tallied.
We understand one group especially whom is wishing for continued wealth 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 (those Euros translate to $1,193,291).
‘We’re delighted in order to introduce the Bad that is all-new Beat by having an industry record-breaking award pool of over €920,000,’ announced Andy Horne, head of poker at BetVictor.
Simpler to Win, More Payouts
Suspended earlier this month so that BetVictor could create a few positive changes to 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 understands.? The changes suggest 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 the same stakes as the winner, so even though you’re maybe not at the table where it strikes, you can share in the good fortune, and that’s no bad beat.’
Opt Set for Players
Players seeking to take part in the Bad Beat Jackpot now need to make use of the ‘opt-in’ option that exist on all cash tables above €0.10/€0.20, of which point they are going to add €0.02 towards the increasing jackpot each hand they play a small price to cover the chance to win a chunk of a large prize.
In order to raise 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 the jackpot up, 10 percent regarding the prize pool are going to be distributed to players who have opted in during the stake level at which the jackpot is hit.
It’s All Your Own
In addition, BetVictor, which was created in 1946 and is among the world’s leading independent bookmaking and gaming groups, has announced that there will be no administration fees involved, and so the complete jackpot is distributed to your 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 possibility of a payout that is decent.