Man Jumps from Casino Ship to Escape Loan Sharks
Gambling on loan-shark borrowed cash is all enjoyable and games before you lose each of that money and are forced to remove to your skivvies and jump from your floor that is third cabin aboard the casino ship that has been the reason for 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 china magazine Ming Pao. He presumably borrowed HK$120,000 (more or less 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 cruising out into international waters, a ever more popular ploy the world over.
The ship ended up being someplace nearby the Eastern Harbor Crossing Tunnel between Lei Yue Mun and Kwun Tong when the man made his escape attempt (the loan sharks had been presumably up to speed with him) after burning through the borrowed cash. He covered 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 his damp way house however, he had been acquired by another ship, which promptly brought him, soaking and sullen, to a nearby police section, and then from there to the hospital for a check-up.
While the man was launched by police and hasn’t been charged with any crime, the authorities are undoubtedly minimal of his concerns at present, 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 issue? Think 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 an impressive allowance from the person from whom she was then separated.
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 many 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 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 last summer when CMT had to shut down, after creditors relocated in to get 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 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 ran 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 cash deposited. The player can then take that note to a casino cashier, get a check for the amount that is remaining deposit said check in their bank account, and declare it as ‘gambling winnings’ on their taxation statements ( which are then cancelled away by the same amount 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 loss that is ancillary cancel the wins out. But the questions about where the money emanated from were what led detectives to look into the cash that is CMT possibility, and the possibility 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 during the company’s 2005 IPO. Also under investigation are the company’s former finance director Takyung Tsang and their wife.
Is actually a case of dirty laundry.
Macau Gaming Revenues Through the Roof for March
The economy may still be crawling back on its belly everywhere else, however in Macau, cash appears to be receding of this sky, at the very least for its casino that is lucrative industry.
A J.P. Morgan analyst quotes that March gross Macau gaming revenues for the world’s most gambling that is successful ever will top away at $3.67 billion, a brand new monthly record even for Macau. Using the final monthly tallies not in yet, it’s predicted that last intakes could end up at a 25 per 1984 book 1 cent enhance over the same time in 2012, and it looks like that’s thanks to a proliferation of Asian whales, a sector that appears to own exploded having a 15 to 20 per cent development rate in 2010.
On the other hand associated with Coin
Talk about trickle-down economics: seems most of Macau’s casino industry employees are also having a year that is good far. In a 2013 survey known as the Macau worker Confidence and Satisfaction Index, 1,026 workers responded about their different amounts of job satisfaction, as well as their overall work self- confidence. Although somewhat down from last year’s Index, the movement downward was discreet enough to help you to categorize their feelings as ‘stable’ in the mysterious globe of index rankers.
Casinos Employ Many
With almost a third of this survey participants employed 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 publishing the lowest satisfaction away from the entire gaming employee team. With 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 tippers that are also great they win? Sure feels like it.
The ahead year
Now it just remains become seen in the event that rest of 2013 is since profitable as March looks enjoy it will be whenever all the true numbers are totally tallied.
We understand one group specially who 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 award pool of €921,603 (those Euros translate to $1,193,291).
‘we are delighted in order to introduce the all-new Bad Beat Jackpot with an industry record-breaking reward pool of over €920,000,’ announced Andy Horne, head of poker at BetVictor.
More straightforward to Win, More Payouts
Suspended earlier this month to make certain that BetVictor could make a few changes that are positive the structure for the players, the jackpot is now able to be won more effortlessly, with more benefiting from the payout too.
‘Will it achieve €1 million? Who knows.? The modifications suggest it will often be won more and by more folks now,’ explained Horne. ‘The present jackpot will dsicover over €90,000 paid out to opted-in players playing at the exact same stakes as the winner, so even although you’re not during the table where it hits, it is possible to share within the good fortune, and that is no bad beat.’
Opt In for Players
Players seeking to take part in the Bad Beat Jackpot now require to utilize the ‘opt-in’ option which can be found on all money tables above €0.10/€0.20, at which point they will add €0.02 towards the increasing jackpot each hand they play a tiny cost to fund the opportunity to win a chunk of a big 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.
When the happy winner manages to sweep up the jackpot, 10 percent regarding the prize pool is distributed to players who have opted in during the stake degree at which the jackpot is hit.
It’s All Yours
In addition, BetVictor, which ended up being established in 1946 and is now among the world’s leading bookmaking that is independent gaming groups, has announced that there is going to be no administration fees involved, so the complete jackpot are distributed to the players involved.
With increased chances of winning, and a record-breaking reward pool of almost one million euros just waiting to burst, BetVictor is certainly going to own its flood gates battered down by those looking to play on low-stakes tables with all the chance of a payout that is decent.