Man Jumps from Casino Ship to Escape Loan Sharks
Gambling on loan-shark borrowed money is all fun and games and soon you lose most 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 explanation for your short-lived fun and subsequent woes, into the frigid waters of Hong Kong’s Victoria Harbor below.
A Chinese nationwide surnamed Lu discovered that out the hard way final week, based on the oriental magazine Ming Pao. He presumably borrowed HK$120,000 (approximately US$15,460) from loan sharks and embarked on a night 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 ended up being someplace close to the Eastern Harbor Crossing Tunnel between Lei Yue Mun and Kwun Tong once the man made their escape attempt (the loan sharks had been presumably up to speed with him) after burning through the borrowed money. He wrapped their papers and exactly what money that is little 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 damp way home however, he was found by another ship, which promptly brought him, soaking and sullen, to a nearby police section, and then from there to a medical facility for a check-up.
Even though the man premiered by police and has not been charged with any crime, law enforcement are clearly the least of his worries at the moment, as he still has a formidable gambling debt hanging over his mind, and likely some extremely angry people looking for him over it; people who probably weren’t particularly impressed by his decision to choose a late night swim.
You are thought by there is a gambling problem? How 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 high roller slot machines at Las Vegas’ upscale Wynn and Bellagio casinos between 2005 and 2010, playing with an impressive allowance from the man from whom she was then separated.
Surprisingly, you will find people who throw money around at that crazy level in Vegas, so betting $5K a hand at slots per se most likely will never have raised too numerous eyebrows. Just What did catch the eye of investigators, however, was the way that Mrs. Xiaodong received the enormous amounts to have the ability to manage to play at that level, because one source suggests that she may 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 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 relocated in to collect 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 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 slots.
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 all of those other money deposited. The gamer can then simply take that note to a casino cashier, receive a check for the remaining amount, deposit said sign in their particular bank account, and declare it as ‘gambling winnings’ on their taxation statements ( which are then terminated away 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 possibility of money laundering of CMT’s massive IPO funds.
Now CMT’s liquidators are trying to monitor some $670 million in missing cash that was raised throughout the company’s 2005 IPO. Also under investigation will be the company’s previous finance director Takyung Tsang and his wife.
Could be a full case of dirty laundry.
The economy may remain crawling back on its belly everywhere else, but in Macau, money seems to be receding of the sky, at the very least for its lucrative casino 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 month-to-month record even for Macau. Utilizing the final monthly tallies not in yet, it’s predicted that final intakes could end up at a 25 percent enhance over the quick summary of 1984 exact same time in 2012, and it looks like that’s as a result of a expansion of Asian whales, a sector that appears to own exploded by having a 15 to 20 percent development rate in 2010.
On the Other Side associated with Coin
Talk about trickle-down economics: seems nearly all of Macau’s casino industry workers are also having a good year so far. In a 2013 survey referred to as Macau Employee self-esteem and Satisfaction Index, 1,026 workers responded about their different levels of job satisfaction, in addition to their overall work confidence. Although slightly down from last year’s Index, the movement downward was simple enough to help you to categorize their feelings as ‘stable’ in the mysterious world of index rankers.
Casinos Employ Many
With almost a third of this survey respondents working in Macau’s booming casino industry, it seems 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 team. In regards to income, however, croupiers rake in the greatest satisfaction 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 winnings? Sure sounds like it.
The ahead year
Now it just remains to be seen in the event that rest of 2013 is going to be since lucrative as March appears enjoy it will be when all the true numbers are completely tallied.
We know one group particularly who is wishing for continued wide range to come strike the tables in Macau: the croupiers.
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 are 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 month so that BetVictor could produce a few positive changes to the structure because of its players, the jackpot is now able to be won more easily, with more benefiting from the payout too.
‘Will it reach €1 million? Who knows.? The changes mean it will be won more frequently and by more individuals now,’ explained Horne. ‘The present jackpot will dsicover over €90,000 paid out to opted-in players playing at similar stakes as the winner, so even though you’re not during the table where it hits, you’ll share within the good fortune, and that is no bad beat.’
Opt In for Players
Players looking to participate in the Bad Beat Jackpot now need to make use of the ‘opt-in’ option that you can get 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 down 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 are distributed to players who’ve opted in during the stake level at which the jackpot is hit.
It’s All Yours
In addition, BetVictor, which was established in 1946 and is now one of many world’s leading independent bookmaking and gaming groups, has announced that there are no administration fees involved, so the complete jackpot are going to be distributed towards 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 because of the potential for a decent payout.