Man Jumps from Casino Ship to Escape Loan Sharks
Gambling on loan-shark borrowed cash is all fun and games until you lose most of that money and are forced to strip to your skivvies and jump from your own 3rd flooring cabin window aboard the casino ship which was 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, according to the Chinese language paper 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 ever more popular ploy the world over.
The ship ended up being somewhere close to the Eastern Harbor Crossing Tunnel between Lei Yue Mun and Kwun Tong once the man made his escape attempt (the loan sharks had been presumably up to speed with him) after burning through the lent cash. He wrapped his documents and what little cash he had left in plastic, stripped down, donned a life coat, and jumped from the window of his cabin.
Rather than being free to swim to safety and make their wet way home however, he had been acquired 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 guy was launched by police and has not been charged with any crime, law enforcement are surely the least of his concerns at the moment, as he still has a formidable gambling debt hanging over their head, and likely some very angry people looking for him over it; individuals 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 think you have a gambling problem? How about $116,000 per month on a slots habit? That’s exactly 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 an impressive allowance from the person from whom she was then separated.
Washed Out
Contrary to popular belief, you will find individuals 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 interest of investigators, however, was the way in which Mrs. Xiaodong received the enormous sums to manage to afford to play at that level, because one source shows that she may 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 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 in the New York Stock market.
Money Problems
It ended up being summer that is last CMT had to close straight down, after creditors moved in to gather 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 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 periods of slot play with a credit note for all of those other money deposited. The player can then simply take that note to a casino cashier, receive 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 cancelled 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 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 possibility for money laundering of CMT’s massive IPO funds.
Money Speaks
Now CMT’s liquidators are trying to monitor some $670 million in lacking cash which was raised during the company’s 2005 IPO. Also under investigation will be the company’s former finance director Takyung Tsang and his wife.
Might be a case of dirty laundry.
Macau Gaming Revenues Through the Roof for March
The economy may nevertheless be crawling back on its stomach every-where else, but in Macau, money seems to be receding of this sky, at the very 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 gambling that is successful ever will top out at $3.67 billion, a new month-to-month record even for Macau. Aided by the final monthly tallies not 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 is thanks to a proliferation of Asian whales, a https://shmoop.pro/1984-by-george-orwell-part-one-summary/ sector that appears to own exploded with a 15 to 20 percent growth rate this present year.
On the reverse side of the Coin
Talk about trickle-down economics: seems most of Macau’s casino industry workers are also having a good year so far. In a 2013 survey referred to as Macau Employee Confidence and Satisfaction Index, 1,026 employees responded about their various amounts of job satisfaction, as well as their job that is overall confidence. Although somewhat down from last year’s Index, the movement downward ended up being discreet sufficient to be able to categorize their feelings as ‘stable’ in the mysterious world of index rankers.
Casinos Employ Many
With nearly a third of this 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 satisfaction that is lowest out of the entire gaming employee group. 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 also great tippers whenever they win? Sure appears like it.
The Coming Year
Now it just remains become seen if the rest of 2013 are going to be because lucrative as March appears enjoy it will be when all the numbers are totally tallied.
We understand one group especially who 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 award pool of €921,603 (those Euros translate to $1,193,291).
‘we are 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.
Simpler to Win, More Payouts
Suspended earlier this thirty days to ensure BetVictor could make 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 understands.? The modifications mean it will be won more often and by more folks now,’ explained Horne. ‘The present jackpot will see over €90,000 paid out to opted-in players playing at the same stakes as the winner, so even if you’re not during the table where it strikes, you are able to share within the good fortune, and that’s no bad beat.’
Opt In for Players
Players seeking to take part in the Bad Beat Jackpot now need to utilize the ‘opt-in’ option that exist on all money 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 boost 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 percent regarding the reward pool are going to be distributed to players who possess opted in during the stake level at which the jackpot is hit.
It’s All Your Own
In addition, BetVictor, which had been established in 1946 and is becoming among the planet’s leading bookmaking that is independent gaming groups, has announced that there is no administration fees involved, and so the complete jackpot will likely be distributed to your 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 have its flood gates battered down by those looking to play on low-stakes tables utilizing the potential for a payout that is decent.
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