A Hint of the Nature of the Problem


Phan Thi Kim Phuong... Arrested in 2002 after she admitted hiding  656 grams of heroin in the clothing of her younger sisters, aged 14 and  12.

Phan Thi Kim Phuong… Arrested in 2002 after she admitted hiding 656 grams of heroin in the clothing of her younger sisters, aged 14 and 12.

I have written more than a little about the dangers of what I have called the “Chinese gambling culture” to the gaming industry and particularly to Nevada gaming regulation – I might want to change the label to “Asian gambling culture” as the Chinese are not the only ones with a tendency to combine crime and gambling in a particular manner.  My premise is simple: gaming in Asia is growing faster than any other place; a number of first tier American gaming companies are redefining themselves as Asian companies; those companies are “too big to fail” for the economy of Nevada; crime related to gambling, money lending and collection is simply part of that culture; Nevada (or any other state) could not afford to give MGM, Harrah’s, Wynn or Sands a choice between Nevada and one of those Asian jurisdictions.

The Sydney Morning Herald is running a story about Vietnamese who were forced into a kind of drug slavery over gambling debts.  [Sydney Morning Herald] That story gives us a hint of what might lie under the surface.  Recently I was told a story about Macau; in the story there are willing lenders hanging out around the casinos in Macau.  They are willing to lend money to anyone who wishes to gamble.  No one knows the source of money, but it is said to be limitless, no security required the only cost is of course a significant interest rate.  If the borrower pays it back the story ends, if on the other hand the gamblers loses the money, he is the put in a kind of prison with a cell phone so he can call his family to raise the money for him; and, according to the tale, there he remains until he can pay his debt.  I have no proof, but the combination of the two stories suggests it might be an issue.

Advertisements

0 Responses to “A Hint of the Nature of the Problem”



  1. Leave a Comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s




Disclaimer

This is a personal blog and the information in articles posted here represents my personal views. It does not necessarily represent the views of people, institutions or organizations that I may or may not be related with, and is not sponsored or endorsed by them unless stated explicitly. Comments and other public postings are the sole responsibility of their authors, and I shall not take any responsibility and liability for any libel or litigation that results from information written in or as a direct result of information written in a comment. All trademarks, copyrights, and registered names used or cited by this website are the property of their respective owners. I am not responsible for the contents or the reliability of any articles excerpted herein or linked websites and do not necessarily endorse the views expressed within them. I cannot guarantee that these links will work all of the time and have no control over the availability of the linked pages.

Pages

May 2010
M T W T F S S
« Apr   Jun »
 12
3456789
10111213141516
17181920212223
24252627282930
31  

%d bloggers like this: