Man Jumps from Casino Ship to Escape Loan Sharks

Gambling on loan-shark borrowed cash 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 third 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 nationwide surnamed Lu discovered that out the way that is hard week, according to the oriental newspaper Ming Pao. He allegedly borrowed HK$120,000 (approximately US$15,460) from loan sharks and embarked for a night 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 ploy that is increasingly popular 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 effort (the loan sharks had been presumably on board with him) after burning through the lent cash. He covered their documents and just 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 his damp way house however, he was found by another ship, which immediately brought him, soaking and sullen, to a police that is nearby, and then after that to the hospital for a check-up.

As the man was launched by authorities and has not been charged with any crime, the police are undoubtedly the least of his concerns at the moment, as he still has a formidable gambling debt hanging over his mind, and likely some very angry people looking for him over it; individuals who probably weren’t particularly impressed by his decision to go with a late night swim.

Chinese Laundry Through the Slots: Money Laundering Alleged for Med Tech Firm

You are thought by you’ve got a gambling problem? What about $116,000 per month on a slots habit? That is 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 astonishing allowance from the man from whom she was then separated.

Washed Out

The truth is, you can find those who throw money around at that crazy level in Vegas, so gambling $5K a hand at slots by itself most likely will never have raised too many eyebrows. Just What did catch the eye of investigators, however, was the way that 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 and for living expenses (begging the 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 Exchange.

Cash Problems

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 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 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 the rest of the money deposited. The player can then take that note to a casino cashier, get a check for the amount that is remaining deposit said sign in their own bank account, and declare it as ‘gambling winnings’ on their tax returns ( that are then cancelled out by the same amount in ‘gambling losses,’ of course.)

Reports say that Bi Xiaodong declared close to $17 million on her comes back in victories between 2009 and 2011, with the ancillary loss to cancel the wins out. But the questions about where the funds emanated from were what led investigators to look into the cash that is CMT possibility, and the chance for money laundering of CMT’s massive IPO funds.

Money Speaks

Now CMT’s liquidators are trying to track some $670 million in lacking money that has been raised during the business’s 2005 IPO. Also under investigation will be the company’s previous finance director Takyung Tsang and his wife.

Is actually a full case of dirty laundry.

Macau Gaming Revenues Through the Roof for March

The economy may nevertheless 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 quotes that March gross Macau gaming revenues for the world’s most successful gambling destination ever will top away at $3.67 billion, a new monthly record even for Macau. With the final monthly tallies not really in yet, it is predicted that last intakes could end up at a 25 % increase over the exact same amount of time in 2012, and it looks like that is as a result of a expansion of Asian whales, a sector that https://shmoop.pro/1984-by-george-orwell-part-one-summary/ appears to possess exploded by having a 15 to 20 percent growth rate this year.

On the Other Side associated with the Coin

Talk about trickle-down economics: seems nearly all of Macau’s casino industry employees are also having a year that is good far. In a 2013 survey known as the Macau Employee Confidence and Satisfaction Index, 1,026 workers responded about their different levels of job satisfaction, as well as their overall task confidence. Although slightly down from last year’s Index, the movement downward was slight sufficient in order to categorize their emotions as ‘stable’ in the mysterious globe of index rankers.

Casinos Employ Many

With almost a third associated with the survey participants involved 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 publishing the satisfaction that is lowest out of the entire gaming employee group. As it pertains to income, however, croupiers rake in the satisfaction that is highest of any of workers, gaming and non-gaming alike. Could all those incredibly wealthy Asian whales be both impossibly demanding and tippers that are also great they win? Sure sounds like it.

The Coming Year

Now it just remains become seen if the rest of 2013 will likely be as profitable as March appears enjoy it will be when all the numbers are totally tallied.

We understand one group specially whom 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 prize that is record-breaking of €921,603 (those Euros translate to $1,193,291).

‘We’re delighted in order to launch the Bad that is all-new Beat with 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 making sure that BetVictor could make a few changes that are positive the structure because of its players, the jackpot can now be won more easily, with more benefiting from the payout too.

‘Will it reach €1 million? Who knows.? The modifications mean it will often be won more and by more individuals now,’ explained Horne. ‘The current jackpot will see over €90,000 paid out to opted-in players playing at the exact same stakes as the winner, so even if you’re maybe not during the table where it strikes, you can share within the good fortune, and that is no bad beat.’

Opt Set for Players

Players trying to be involved in the Bad Beat Jackpot now require to use the ‘opt-in’ option which can be found 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.

So as to increase the chances of winning, the new hand that is qualifying been reduced from four-of-a-kind eights, to four-of-a-kind deuces.

Whenever the happy winner manages to sweep the jackpot up, ten percent of this award pool will likely be distributed to players who have opted in during the stake level at which the jackpot is hit.

It’s All Yours

In addition, BetVictor, which ended up being created in 1946 and is becoming among the world’s leading bookmaking that is independent 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 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 payout that is decent.