Shanghai entrepreneur allegedly sued by casino for billions in debts owed

A US-based Chinese news website has alleged that a well-known Shanghainese entrepreneur has been sued by a Macau casino operator for RMB1 billion in gaming debt. Furthermore, this may trigger a political earthquake in Shanghai due to the businessman’s close relationship with the mayor.
A report by Boxun.com, which was cited by Macau Daily, alleged that businessman Shao Dongming has been gambling in Macau since 2011 and has been nicknamed “the red king of gambling” due to his million-dollar bets.
However, after gambling in a casino during the Chinese New Year period in 2012, Shao was said to accumulate a gaming debt that amounted to RMB1 billion. 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.
The casino was said to have taken the debt to the court in Macau, and has asked for assistance from the Macau members of the Chinese People’s Political Consultative Conference to launch a complaint to the Commission for Discipline Inspection of the Central Committee of the Chinese Communist Party.
The report claimed that Shao used to brag about his relationship with Shanghainese officials, including the current mayor Yang Xiong. Given the allegation that Shao was protected by the officials of Shanghai, the Commission for Discipline Inspection was said to have instructed a stringent inspection into the issue, which may cause a political earthquake in the Chinese city. MDT