‘Red King of Gambling’ Owes $160 Million, Threatened Creditors With Bodily Harm
The so-called “Red King of Gambling” is reportedly under investigation by Chinese authorities. He is one of many high profile individuals in the world’s most populous nation who have come under fire as part of an anti-corruption campaign lodged by Government officials last month.
Shao Dongming is the CEO of Chinese property development company Dongding Investment. He is also among the richest men in Shanghai. Now he’s said to owe $160 million to creditors, some of whom he reportedly threatened with bodily harm.
Domgming is being sued by a Macau casino operator for RMB1 billion in gaming debt. He is said to have placed million dollar bets in the Chinese gambling enclave.
Macau Daily reports:
The casino initially tried to negotiate with him to have the debt repaid over a period. However, it is alleged that Shao used his relationship with the law enforcement agencies in Shanghai, and was able to control the personnel sent by the Macau casinos for negotiation.
- Jagajeet Chiba, Gambling911.com
