Apparently, online gambling via the Internet is also HUGE in South Korea. On this story, police locate Chinese casino operators out of Hong Kong based servers.
The Pusan Metropolitan Police Agency said on Sunday they are searching for five people suspected of operating illegal international gambling Web sites.
According to the police, the suspects, who are living in China, opened two gambling Web sites using Hong Kong servers in April 2004. They collected more than 20,000 Korean members through advertisements using cell phone text messages and provided them with online gambling venues for poker and “go-stop,’’ the Korean card game.
The money involved totaled 13.5 billion won, the police said.
Gamblers sent cash to the operators’ bank accounts, who in turn provided them with game money, taking 8 percent of the cash as commission.
According to the police the five operators are members of the same family and were punished in 2001 for operating a gambling Web site in Korea. They then went to Shenzhen, China where they continued to run their illegal gambling Togel Singapore business.
The police also charged 76 people who they say regularly logged onto the Web sites and gambled including a doctor, a company executive, a housewife, and a college student.
“They gambled on the sites for more than a month spending more than 2 million won each. Most of them were not aware that gambling on the Internet is subject to the country’s gambling laws,’’ a police officer said.
The police asked Interpol for help in arresting the operators as they are living overseas.
Virgin in Macao – Casino money keeps pouring in
Wealthy entrepreneurs and private equity players are flocking to a tiny territory off the southern coast of China, and it’s not because they’re looking for tax breaks.
Macao, a former Portugese colony, last year overtook the Las Vegas Strip as the world’s biggest gaming centre by revenues, and investors are looking to get in on the action.
Virgin entrepreneur Sir Richard Branson is in advanced talks to secure land in the Chinese special administrative region, where he intends to build a $3bn casino resort complex.
Meanwhile, a group of private equity investors has paid about US$390m for convertible preferred shares in a Macau hotel and casino firm in yet another sign of growing global interest in the Chinese gambling enclave, Reuters said. The preferred shares, mostly secondary, represent 45 per cent of the share capital of Macao Legend Development, according to a statement released by Merrill Lynch, which acted as the placement agent in the deal, one of the biggest private equity offerings from Macao. No further details about the deal and the identity of the private equity investors were available.
Macao is the only place in China where casinos are legal. Last year gaming revenues in the territory rose 23 per cent to $7bn, and further growth is expected. Baccarat – 007’s favourite card game – is the territory’s most popular diversion.