{"id":124810,"date":"2020-01-20T09:38:11","date_gmt":"2020-01-20T17:38:11","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=124810"},"modified":"2020-01-20T11:31:52","modified_gmt":"2020-01-20T19:31:52","slug":"grand-lisboa-brand-exploited-by-huge-illegal-chinese-gaming-ring","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/grand-lisboa-brand-exploited-by-huge-illegal-chinese-gaming-ring\/","title":{"rendered":"Grand Lisboa Macau Name Used by Illegal Chinese Online Gambling Ring Busted in Vietnam"},"content":{"rendered":"

A sprawling, illicit online gambling enterprise operated by Chinese nationals in Vietnam used the \u201cGrand Lisboa Macau\u201d name to pilfer cash from unsuspecting bettors, according to authorities that recently disrupted the ring.<\/p>\n

\"\"
A massive, illegal Chinese gambling ring busted in Vietnam exploited the Grand Lisboa Macau name for big profits. (Image: Refined Travelers)<\/figcaption><\/figure>\n

Vietnamese law enforcement officers teamed with China\u2019s Ministry of Public Security and Zhuhai Police to arrest nearly 400 suspects in Haiphong City, near the capitol city of Hanoi. The group was charged with running an unofficial gambling enterprise worth $437 million.<\/p>\n

Twenty-one organized crime outfits took control of 10 Haiphong City apartment buildings and used those properties to run 187 betting sites, some using the Grand Lisboa Macau name, reports Xinhua<\/i>, a Chinese state-run media organization.<\/p>\n

The operation is said to have been started by a group of five individuals in Shenzhen and Huizhou in 2017 before moving to Vietnam in 2018,\u201d reports Inside Asian Gaming.<\/i><\/p><\/blockquote>\n

It is believed that local Vietnamese citizens worked for the illegal gaming business. But Xinhua <\/i>didn’t include a breakdown of the 395 arrests along country of origin lines.<\/p>\n

Not The First Time<\/h2>\n

Criminals using the names of prestigious Macau properties to bilk unwitting bettors isn’t a rarity. As Casino.org <\/i>reported earlier this month<\/a>, a sham enterprise using the Wynn Macau name allegedly duped 200 players out of $8 million.<\/p>\n

\n

Wynn Macau Ltd., the Chinese unit of Las Vegas-based Wynn Resorts Ltd., issued a statement, saying it doesn’t offer online betting on the peninsula, and urged customers \u201cto be extremely wary\u201d of any gaming sites purporting to be connected to the company.<\/p>\n<\/div>\n

The Grand Lisboa Hotel and Casino is owned by Stanley Ho’s Sociedade de Jogos de Macau (SJM) and is one of the more recognizable properties<\/a> in the world’s largest gaming center. That brand recognition is likely one reason why the aforementioned criminals used the brand across eight different sites, and why those web properties combined to contribute the largest percentage of the ill-gotten $437 million.<\/strong><\/p>\n

Tough Timing<\/h2>\n

News of the illegal gambling ring exploiting the SJM property’s name comes amid increasing investor optimism for the gaming company in 2020. Analysts have been ratcheting up ratings on Macau operators<\/a>, including SJM, noting that gross gaming revenue (GGR) on the peninsula should rebound in the second half of this year.<\/p>\n

For example, JPMorgan recently raised its rating on SJM to \u201coverweight\u201d from \u201cneutral,\u201d fueling a rally that saw the stock gain 17 percent for the two weeks ending Jan. 16.<\/p>\n

\u201cWhile the stock already rallied the last two weeks, we think a window of opportunity remains,\u201d said JPMorgan analyst DS Kim in a recent note to clients.<\/p>\n

The analyst believes SJM can finally open the Grand Lisboa Palace property in the fourth quarter of 2020, bringing much-needed new room to supply to market.<\/p>\n

\u201cOur price target implies a potential 19% return by end- \u201820 (including dividends), but we see a possibility of overshoot into the opening,\u201d said Kim.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

A sprawling, illicit online gambling enterprise operated by Chinese nationals in Vietnam used the \u201cGrand Lisboa Macau\u201d name to pilfer cash from unsuspecting bettors, according to authorities that recently disrupted the ring. Vietnamese law enforcement officers teamed with China\u2019s Ministry of Public Security and Zhuhai Police to arrest nearly 400 suspects in Haiphong City, near […]<\/p>\n","protected":false},"author":46,"featured_media":124812,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[19],"tags":[],"acf":[],"yoast_head":"\nGrand Lisboa Brand Exploited by Huge Illegal Chinese Gaming Ring<\/title>\n<meta name=\"description\" content=\"A massive criminal gambling enterprise using the Grand Lisboa Macau name was broken up in Vietnam, leading to nearly 400 arrests.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/grand-lisboa-brand-exploited-by-huge-illegal-chinese-gaming-ring\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Grand Lisboa Brand Exploited by Huge Illegal Chinese Gaming Ring\" \/>\n<meta property=\"og:description\" content=\"A massive criminal gambling enterprise using the Grand Lisboa Macau name was broken up in Vietnam, leading to nearly 400 arrests.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/grand-lisboa-brand-exploited-by-huge-illegal-chinese-gaming-ring\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2020-01-20T17:38:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-01-20T19:31:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/01\/grandlisboa.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2048\" \/>\n\t<meta property=\"og:image:height\" content=\"1365\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/grand-lisboa-brand-exploited-by-huge-illegal-chinese-gaming-ring\/\",\"url\":\"https:\/\/www.casino.org\/news\/grand-lisboa-brand-exploited-by-huge-illegal-chinese-gaming-ring\/\",\"name\":\"Grand Lisboa Brand Exploited by Huge Illegal Chinese Gaming Ring\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/grand-lisboa-brand-exploited-by-huge-illegal-chinese-gaming-ring\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/grand-lisboa-brand-exploited-by-huge-illegal-chinese-gaming-ring\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/01\/grandlisboa.jpg\",\"datePublished\":\"2020-01-20T17:38:11+00:00\",\"dateModified\":\"2020-01-20T19:31:52+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"A massive criminal gambling enterprise using the Grand Lisboa Macau name was broken up in Vietnam, leading to nearly 400 arrests.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/grand-lisboa-brand-exploited-by-huge-illegal-chinese-gaming-ring\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/grand-lisboa-brand-exploited-by-huge-illegal-chinese-gaming-ring\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/grand-lisboa-brand-exploited-by-huge-illegal-chinese-gaming-ring\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/01\/grandlisboa.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/01\/grandlisboa.jpg\",\"width\":2048,\"height\":1365,\"caption\":\"A massive, illegal Chinese gambling ring busted in Vietnam exploited the Grand Lisboa Macau name for big profits. 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