Gambler's Thread 01 (May 08 - Nov 10)

C'mon in when boredom strikes! 3 (May 10 - Oct 10)

Postby kennynah » Wed Jul 14, 2010 6:55 pm

gambling addiction numbers doubled.... many thanks to the ingenious idea of having 2 casinos in our backyards...creating ample and easy opportunities for singaporeans to become gambling addicts...

i declare..and happily... that i've not stepped into any of these 2 local gambling dens...yet... 8-)
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Re: Gambler's Thread 1 (May 08 - Jul 10)

Postby winston » Wed Jul 28, 2010 7:30 pm

Bankers, Company Directors Arrested in Hong Kong Poker Raid

Associated Press

HONG KONG—A Merrill Lynch banker and others working in the financial industry have been prosecuted for taking part in an underground Texas hold 'em poker game in Hong Kong.

New Zealand national Michael Tan Boon Suan and seven others have been charged with gambling in a gaming establishment, according to court documents obtained by The Associated Press on Wednesday. If this is their first offense, they face a maximum penalty of three months in jail and a fine of 10,000 Hong Kong dollars ($1,300).

The eight defendants did not enter pleas in a court appearance on Tuesday and were all freed on bail of HK$1,000 each. Their cases were adjourned to August and September.

While neighboring Macau is known as the Las Vegas of Asia, casinos are illegal in Hong Kong, where the only legal forms of gambling are a numbers lottery and betting on horse races and football matches, all of which are operated by the Hong Kong Jockey Club.

Tan and his fellow alleged gamblers were arrested at a Texas hold 'em card game in the Central financial district in March, local media reported on Wednesday. Police officers seized more than HK$3 million in cash at the game, the report said.

The 42-year-old banker is a licensed securities trader and corporate finance adviser for Merrill Lynch, according to records posted on the website of Hong Kong's Securities and Futures Commission.

Among the other defendants are another banker, two investment consultants, two company directors, a businessman and a bank teller, according to the court documents.

Two Hong Kong women and two Nepalese women all in their 20s were charged with either operating or managing the venue where the illegal game took place.
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Boredom Strikes 04 (Sep 10 - Dec 10)

Postby iam802 » Fri Oct 08, 2010 11:21 am

the key point here is...there are more gambling issues than what is reported in the mainstream media.

------------------

ArcelorMittal Sues Singapore Trader for Steel Stolen to Finance Gambling

http://www.bloomberg.com/news/2010-10-0 ... bling.html
ArcelorMittal Singapore Pte, claiming a former warehouse manager stole steel products and sold them at a discount to fund his gambling, sued scrap metal trader Guan Peng Hardware Pte for the return of the goods.

Low Kok Leong stole about 4,000 metric tons of steel products valued at $7 million and sold them to four companies including Guan Peng at a fraction of their actual value, according to lawsuit filed with the Singapore High Court last month. Low has admitted to the theft, according to the suit.

...

1. Always wait for the setup. NO SETUP; NO TRADE

2. The trend will END but I don't know WHEN.

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Re: Boredom Strikes 04 (Sep 10 - Dec 10)

Postby Poles » Fri Oct 08, 2010 11:29 am

bro...are you sure or not....i did a google...cannot find this new on our local papers ley???hahhahaaa.....

dun worry lah....still got some gambling counselling agency lah...that will fix the problem.....
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Re: Gambler's Thread 01 (May 08 - Oct 10)

Postby iam802 » Tue Oct 12, 2010 9:24 am

Singapore 'world's second largest gaming centre' (coming soon....).

So, will the gahmen go all out to achieve 'No. 1'?

Notes:
It is also probably easier to just report mega loss by tycoons.

How about cases of those from the heartlanders ....lose money...and driven to do all sorts of nonsense (ending their life, helping Dai E Long etc)?

==
Local tycoon blows $100m at the tables

http://www.todayonline.com/Print/Busine ... the-tables

SINGAPORE - Sources have told Today that a local businessman, who appeared on the latest Forbes list of Singapore's 40 richest people, recently lost a total of $100 million at the two casinos here.

While significant, this is a fraction of his estimated net worth. But he's not the only high-roller to discover that "the house always wins".

Around the same time, sources said, another tycoon from the timber-rich East Malaysian state of Sabah lost $50 million here.

"These guys can well afford the losses," said one high-roller who is a regular at Singapore's two casinos - at Resorts World Sentosa and Marina Bay Sands.

However, while gamblers losing $10 million to $20 million over a few sessions in the rooms reserved for high-rollers are no longer a rare breed, the source said that whispers of these two businessmen parting with a total of $150 million have raised more than a few eyebrows, even among the regulars.

News of these two multi-million-dollar casino losers comes amid an update that local businessman Henry Quek, who lost $26 million during a three-day gambling spree, is said to have settled his debts.

Mr Quek, the managing director of Far Ocean Sea Products, a seafood processing and trading company operating out of Fishery Port Road in Jurong, had initially considered legal action against Resorts World Sentosa for granting him credit too easily.

It is understood that the casino had shaved $6 million off his debt initially and another $3 million after the media reports about the case.

Mr Quek is said to have settled the rest of the outstanding debt. Unlike Mr Quek, the two latest multi-million-dollar losers, who are believed to have put their money at gaming tables of both Resorts World Sentosa and Marina Bay Sands, are said to have absorbed their losses without any complaints.

Against the backdrop of such mega-losses by individual high-rollers, analysts say it is not surprising Mr Sheldon Adelson, chairman of Las Vegas Sands, parent of Marina Bay Sands, predicted that Singapore could, in a few years, overtake Las Vegas as the world's second-largest gaming centre behind Macau.

1. Always wait for the setup. NO SETUP; NO TRADE

2. The trend will END but I don't know WHEN.

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Re: Gambler's Thread 01 (May 08 - Oct 10)

Postby kennynah » Tue Oct 12, 2010 11:03 am

on sunday.... i heard our chinese news reporting about high bad debts credit card situation..

it was reported that this year, bad debts increased 6 folds, from credit card usage...

i was puzzled by this phenomenon..i thought, usually, this happens when economy swings down...

then...*tink tink tink*... "no more bets"....comes to mind.... :lol:
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Re: Gambler's Thread 01 (May 08 - Oct 10)

Postby iam802 » Tue Oct 12, 2010 11:16 am

kennynah wrote:on sunday.... i heard our chinese news reporting about high bad debts credit card situation..

it was reported that this year, bad debts increased 6 folds, from credit card usage...

...


I think the job issue is staring back at the gahmen now...

eg.
- a person lose his/her job in 2008 (financial crisis)
- live off savings, while cutting expenses (HOPE that one will find job soon)
- pile on credit card bills to pay off expenses (<< bad move??)
- 2 years down the road; ...job of yesteryears not coming back...income drop, expense not coming down... credit card bill still piling up
1. Always wait for the setup. NO SETUP; NO TRADE

2. The trend will END but I don't know WHEN.

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Re: Gambler's Thread 01 (May 08 - Oct 10)

Postby kennynah » Tue Oct 12, 2010 11:32 am

maybe...your above post could be the reason...

last i checked... many jobs are available now...but whether of the same pay structure is another rmatter...
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Re: Gambler's Thread 01 (May 08 - Oct 10)

Postby kennynah » Tue Oct 12, 2010 12:04 pm

i can sense the very buoyant mood amongst many forummers....

good luck.....
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Re: Gambler's Thread 01 (May 08 - Oct 10)

Postby winston » Sat Oct 16, 2010 7:10 am

Singapore: Suspected machine riggers face additional charges

SINGAPORE -- Two men who are accused of rigging a Money Wheel game at the Marina Bay Sands are facing further charges, according to a report in The Straits Times.

The three new charges this week against Keith Yong Kee-Hwei and Tan Tiong Loon are attempted cheating and cheating the casino of $13,500, The Straits Times reported.

This is in addition to last week's charge of cheating the casino out of $18,000, the report said.

Yong is accused of intentionally interfering with the spinning wheel of a Money Wheel game, The Strait Times explained.

http://www.casinocitytimes.com/news/art ... ges-195281
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