Man Jumps from Casino Ship to Escape Loan Sharks

Gambling on loan-shark borrowed cash is all fun and games until you lose each of that money and are forced to remove to your skivvies and jump from your own floor that is third cabin 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 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 (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 had been somewhere near the Eastern Harbor Crossing Tunnel between Lei Yue Mun and Kwun Tong when the man made his escape effort (the loan sharks had been presumably on board with him) after burning through the lent cash. He wrapped his papers and just what little money 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 his wet way house however, he had been found by another ship, which promptly brought him, soaking and sullen, to a police that 1984 book part 1 summary is nearby, and then after that to a healthcare facility for a check-up.

Even though the guy was launched by authorities and hasn’t been charged with any crime, law enforcement are certainly minimal of his concerns at the moment, as he still has a formidable gambling debt hanging over his head, and likely some very angry people looking for him over it; those 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 there is a gambling issue? 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 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.

Washed Out

The truth is, there are those who throw money around at that crazy level in Vegas, so gambling $5K a hand at slots per se probably will never have raised too numerous eyebrows. Exactly What did catch the eye of investigators, however, was the way that Mrs. Xiaodong received the sums that are enormous manage to manage to play at that level, because one source shows 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 footwear 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 market.

Cash Dilemmas

It ended up being last summer when CMT had to shut down, after creditors moved in to gather 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 is currently 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 ran them through the fancy Strip slots.

How It Works

Here’s the shell game: the casino allows players cash down from lengthy durations 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 look for the remaining amount, deposit said check in their bank account, and declare it as ‘gambling winnings’ on their taxation statements ( which are then cancelled out by the same amount in ‘gambling losses,’ of course.)

Reports say that Bi Xiaodong declared near 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 amount of money emanated from were what led investigators to look into the CMT cash flow possibility, and the chance of money laundering of CMT’s massive IPO funds.

Money Talks

Now CMT’s liquidators are trying to track some $670 million in lacking money which was raised throughout the business’s 2005 IPO. Also under investigation will be the company’s former finance director Takyung Tsang and their wife.

Might 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 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 location ever will top away at $3.67 billion, a new month-to-month record even for Macau. A sector that appears to have exploded with a 15 to 20 percent growth rate this year with the final monthly tallies not even in yet, it’s predicted that final intakes could end up at a 25 percent increase over the same time in 2012, and it looks like that’s thanks to a proliferation of Asian whales.

On the other hand associated with the Coin

Talk about trickle-down economics: seems most of Macau’s casino industry employees are also having a good year so far. In a 2013 survey referred to as Macau worker Confidence and Satisfaction Index, 1,026 workers responded about their various amounts of job satisfaction, along with their overall job self- confidence. The movement downward was subtle enough to be able to categorize their feelings as ‘stable’ in the mysterious world of index rankers although slightly down from last year’s Index.

Casinos Employ Many

With almost a third for the survey respondents involved 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 away from the entire gaming employee team. When considering to income, however, croupiers rake into the greatest satisfaction of any of workers, gaming and non-gaming alike. Could all those extremely wealthy Asian whales be both impossibly demanding and additionally great tippers whenever they win? Sure sounds like it.

The Coming Year

Now it just remains become seen in the event that rest of 2013 is as lucrative as March looks like it will be when all the true numbers are entirely 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 record-breaking prize pool of €921,603 (those Euros translate to $1,193,291).

‘we are delighted in order to launch the all-new Bad Beat Jackpot with an industry record-breaking award pool of over €920,000,’ announced Andy Horne, head of poker at BetVictor.

Better to Win, More Payouts

Suspended earlier this month to make certain that BetVictor could create a few positive changes to the structure for the players, the jackpot is now able to be won more easily, with more benefiting from the payout too.

‘Will it achieve €1 million? Who knows.? The changes suggest it will often be won more and by more and more people now,’ explained Horne. ‘The current jackpot will dsicover over €90,000 paid out to opted-in players playing at the same stakes as the winner, so even although you’re maybe not during the table where it strikes, it is possible to share in 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 use the ‘opt-in’ option that you can get on all cash tables above €0.10/€0.20, at which point they will contribute €0.02 to your increasing jackpot each hand they play a little price to pay for the chance to win a chunk of a large prize.

In order to boost the chances of winning, the new qualifying hand has been reduced from four-of-a-kind eights, to four-of-a-kind deuces.

When the happy winner manages to sweep the jackpot up, 10 percent for the award pool will likely be distributed to players that have opted in during the stake degree at which the jackpot is hit.

It’s All Your Own

In addition, BetVictor, which ended up being created in 1946 and has become among the world’s leading independent bookmaking and gaming groups, has established that there are no administration fees involved, therefore the complete jackpot are going to be distributed towards the players involved.

With increased chances of winning, and a record-breaking prize 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 because of the possibility of a decent payout.