Beijing Wins Hong Kong Cup; Shanghai Casino Owner in Hot Seat
The Beijing racecourse won Asia's richest horserace on Sunday, the Hong Kong Cup, beating defending champion Shanghai Casino owner Zhu Xiaoyong who is now in a hot seat.
Zhu, one of China's richest men, has been under fire since last year when he spent US$100 million to win the world's biggest horse race, the Dubai World Cup. He is now being investigated by Chinese authorities on suspicion of money laundering.
"I don't think the pressure is too much," said Zhu after the Hong Kong race. "It is just a normal feeling."
Hong Kong Jockey Club Chairman Henry Cheng said Zhu was not welcome at next year's race. "He (Zhu) put a lot of pressure on everyone and that is not good for the industry," Cheng said. "It would be better if he did not come."
The jockey club rakes in billions of dollars each year from gambling but it is illegal for locals to bet on horse races. Most of the action takes place in Macau, which is across the border from Hong Kong and also allows casino gambling.
Public outcry over rigged Shanghai casino game
A recent revelation that the popular casino game Shanghai has been rigged, with some players able to manipulate the outcome, has caused public outcry.
Shanghai is a tile-removal game for two to four players. The official rules are published by the United States Playing Card Company. The game is played with a Chinese set of Mahjong tiles.
The goal of the game is to remove all of the tiles from the board. A player can remove tiles in two ways: either by matching two tiles of the same type and rank, or by forming a sequence of three or more tiles of the same type.
Tiles must be removed from the board one at a time and cannot be placed back on the board. The player who removes the last tile from the board wins the game.
It has recently come to light that some players have been manipulating the outcome of Shanghai games by following a specific sequence of moves that allows them to win every time. This has caused public outcry, with many people arguing that the game is now not fair because it can be easily manipulated.
Those in support of keeping Shanghai as it is argue that it is simply a matter of skill and that those who are good at the game should be allowed to win. They argue that removing or changing the rules would only disadvantage those who are good at playing Shanghai and would make for a less enjoyable gaming experience for all involved.
China's richest man, Wang Jianlin, loses $1.5 billion in single day at Shanghai casino
China's richest man, Wang Jianlin, lost $1.5 billion in a single day at a Shanghai casino, wiping out almost all of his fortune, according to a report in Chinese media.
The 63-year-old Dalian Wanda Group chairman was playing baccarat and lost 800 million yuan ($115 million) on Friday and another 700 million yuan ($101 million) on Saturday, the Beijing Youth Daily newspaper reported.
Wang's net worth has plunged from around $33 billion in March to just $11.8 billion as of Monday, according to Forbes magazine's latest billionaires list.
Wang, who Forbes says is the fifth richest person in China, owns hotels, cinemas, theme parks and luxury resorts around the world. He is also involved in real estate and sports broadcasting.
Dalian Wanda Group did not respond to requests for comment.
The casino where Wang lost his money is owned by Hong Kong-listed Landing International Development Ltd., which said it had no knowledge of the matter.
"Our company has strict anti-money laundering rules and procedures," a spokeswoman said by email. "We devote significant resources to compliance monitoring."
This isn't the first time Wang has lost big at a casino. In 2013 he reportedly gambled away $14 million in three days at a casino in Macau.
Shanghai casino's license to be revoked after cheating allegations
The Shanghai casino's license is set to be revoked after cheating allegations emerged, according to local media.
The casino, which is operated by the MGM Resorts International, allegedly allowed a group of Chinese high-rollers to cheat at a game of baccarat, which led to a loss of 1.5 billion yuan (around $225 million) for the casino.
The group of high-rollers was able to manipulate the game in their favor by using concealed cards, which gave them an advantage over other players.
This is not the first time that cheating has been alleged at the Shanghai casino; in 2016, three employees were caught manipulating baccarat games.
As a result of the latest cheating allegations, MGM Resorts has announced that it plans to sell its stake in the casino.
ShangHai 008: The most scandalous casino game in history?
ShangHai 008 is a casino game that has been making waves throughout the online gambling community since its release. This new game is quickly gaining a reputation as the most scandalous and controversial casino game ever created.
Some experts are even calling ShangHai 008 the new Slotfather – a casino game that was equally notorious for its scandalous gameplay. But what is it about this new game that has players so excited, and casinos so worried?
ShangHai 008 is a unique take on the traditional casino game of blackjack. In this version, players are given the opportunity to bet on multiple hands at once, increasing their chances of winning big payouts. However, this also comes with increased risk, as players can lose all of their money in a single hand if they're not careful.
This high-risk, high-reward gameplay is what has gamers hooked on ShangHai 008. But it's also what has caused so much controversy among casinos and gaming regulators. Some experts are concerned that the game could lead to addiction and financial ruin for players who are not careful.
Others argue that ShangHai 008 is no different than any other high-stakes casino game, and that players simply need to be responsible with their money if they want to enjoy the excitement of playing it. So far, there has been no definitive ruling on the legality of ShangHai 008, but the debate is sure to continue as more and more people become aware of this exciting new game.
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