A Chinese property development executive, known as the "Red King of Gambling" owes $160 million in gambling debts to casinos in Macau.
Noted for "making multi-million dollar bets with abandon," Shao Dongming is being investigated for corruption by the Chinese government.
Two years ago, this probably wouldn't have been a problem, but with a national anti-corruption campaign afoot in China — in which President Xi Jinping vowed to go after lowly "flies" and powerful "tigers" — and Macau's casino industry going through a massive slowdown, there is no longer any tolerance for the red king's excesses.
There's also little tolerance for his pride. A report from China's NDTV noted that Shao bragged that "anyone creating trouble for him would end up in jail." He has close ties to the mayor of Shanghai, and he has held high-level positions within the Communist Party.
The 'Red King of Gambling' owes $160 million, and that says everything about China's problems
White House plans to divert $3.8 billion from DoD to build Trump’s long-promised wall along the U.S.-Mexico border, for which he lied that Mexico would pay
President Trump today was asked by a reporter if he would pardon Roger Stone.
‘Secret Service had been charged up to $650 per night for rooms at Trump’s Mar-a-Lago Club in Florida, and charged $17,000 a month for a cottage at Trump National Golf Club Bedminster’
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