There’s a new threat to the house aside from card counters and cheaters: the kidnapping of high rollers over unpaid gambling debts.
But what has the abduction of VIP gamblers got to do with casinos?
It can be attributed to the slowing economy of China. Beijing has limited the amount of cash tourists can bring to Macau which prompted high rollers to go to loan sharks for quick cash (Read more here: http://macaudailytimes.com.mo/3588-crimes-in-q1-unlawful-detention-cases-nearly-double.html. This becomes a big problem if the cards and the dice don’t cooperate.)
Unlawful detention cases were reported. Gamblers who couldn’t pay their debts were held in rooms at hotels against their will as their families scamper to find the money to pay the debt. The hotel where gamblers were held was usually attached to casinos where high rollers owe money.
This implicates the hotels and the casinos. Suits are filed either by the victim or their families. Because of this, relations are broken.
The rise in numbers in cases like this was up by 112 percent for the first half of the year—that’s a case of about one in a day.
But these are cases the authorities know about. Experts say the true number could be much higher than that.
All these lent a climate of fear in Macau. To protect themselves against possible legal consequences of such kidnapping cases, hotel and casino operators are looking into specialized risk policies from insurers.
“All the major casino and hotel chains will have looked into this,” Assistant Director of Credit, Political and Security Risks, Ashley Coles said.
But what has the abduction of VIP gamblers got to do with casinos?
It can be attributed to the slowing economy of China. Beijing has limited the amount of cash tourists can bring to Macau which prompted high rollers to go to loan sharks for quick cash (Read more here: http://macaudailytimes.com.mo/3588-crimes-in-q1-unlawful-detention-cases-nearly-double.html. This becomes a big problem if the cards and the dice don’t cooperate.)
Unlawful detention cases were reported. Gamblers who couldn’t pay their debts were held in rooms at hotels against their will as their families scamper to find the money to pay the debt. The hotel where gamblers were held was usually attached to casinos where high rollers owe money.
This implicates the hotels and the casinos. Suits are filed either by the victim or their families. Because of this, relations are broken.
The rise in numbers in cases like this was up by 112 percent for the first half of the year—that’s a case of about one in a day.
But these are cases the authorities know about. Experts say the true number could be much higher than that.
All these lent a climate of fear in Macau. To protect themselves against possible legal consequences of such kidnapping cases, hotel and casino operators are looking into specialized risk policies from insurers.
“All the major casino and hotel chains will have looked into this,” Assistant Director of Credit, Political and Security Risks, Ashley Coles said.