Man Jumps from Casino Ship to Escape Loan Sharks

Gambling on loan-shark borrowed cash is all enjoyable and games and soon 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 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 found that out the hard way final week, according to the Chinese language newsprint Ming Pao. He allegedly borrowed HK$120,000 (approximately 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 increasingly popular ploy the world over.

The ship ended up being somewhere nearby the Eastern Harbor Crossing Tunnel between Lei Yue Mun and Kwun Tong when the man made his escape effort (the loan sharks were presumably on board with him) after burning through the lent money. He wrapped their papers and just 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 had been found by another ship, which immediately brought him, soaking and sullen, to a nearby police station, and then from there to the hospital for a check-up.

Whilst the man premiered by police and has not been charged with any crime, the police are certainly 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 think you’ve got a gambling issue? 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 roller that is high machines at Las Vegas’ upscale Wynn and Bellagio casinos between 2005 and 2010, playing with an astonishing allowance from the person 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 per se most likely will never have raised too numerous eyebrows. Just What did catch the attention of investigators, however, was the way in which 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 relevant 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 on the New York Stock Exchange.

Money Dilemmas

It was last summer whenever CMT had to shut down, after creditors relocated 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 has become suing Wu Xiaodong in a civil suit in 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 slot machines.

How It Works

Here’s the shell game: the casino lets players cash away from lengthy periods of slot play with a credit note for the remainder cash deposited. The gamer can then take that note to a casino cashier, receive a look for the remaining amount, deposit said check in their own bank account, and declare it as ‘gambling winnings’ on their tax statements ( which are then terminated down by the same quantity in ‘gambling losses,’ of course.)

Reports say that Bi Xiaodong declared near to $17 million on her comes back in victories between 2009 and 2011, with the loss that is ancillary cancel the wins out. But the concerns about where the amount of money emanated from were what led investigators to look into the CMT cash flow 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 missing money that was raised during 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 be crawling back on its stomach every-where else, however in Macau, cash seems to be falling out 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 down at $3.67 billion, a brand new monthly 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 Side regarding the Coin

Talk about trickle-down economics: seems nearly all of Macau’s casino industry employees are also having a good year so far. In a 2013 survey referred to as Macau worker self-esteem and Satisfaction Index, 1,026 employees responded about their different amounts of job satisfaction, along with their overall work 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 nearly a third of the survey participants 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 lowest satisfaction out of the entire gaming employee group. With regards to income, however, croupiers rake within 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 winnings? Sure feels like it.

The ahead year

Now it just remains to be seen in the event that rest of 2013 are since lucrative as March appears want it will be when all the numbers are completely tallied.

We know one group particularly whom 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 reward pool of €921,603 (those Euros translate to $1,193,291).

‘We’re delighted in order to launch the Bad that is all-new Beat by having an industry record-breaking prize pool of over €920,000,’ announced Andy Horne, head of poker at BetVictor.

More straightforward to Win, More Payouts

Suspended earlier this thirty days to ensure that BetVictor could produce a few changes that are positive 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 regularly and by more people now,’ explained Horne. ‘The current jackpot will dsicover over €90,000 paid out to opted-in players playing at exactly the same stakes as the winner, so even if you’re maybe not at the table where it strikes, you can share into 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 make use of the ‘opt-in’ option that exist on all cash tables above €0.10/€0.20, of which point they will add €0.02 to the increasing jackpot each hand they play a little price to fund the opportunity to win a chunk of a large prize.

In an effort to increase 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 up the jackpot, 10 % for the prize pool are distributed to players who have opted in at the stake degree at which the jackpot is hit.

It’s All Your Own

In addition, BetVictor, which had been established in 1946 and is one of the planet’s leading independent bookmaking and gaming groups, has announced that there will likely be no administration fees involved, so that the complete jackpot will likely be distributed to the players involved.

With increased chances of https://shmoop.pro/1984-by-george-orwell-part-one-summary/ 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 with all the chance of a payout that is decent.