Gionee CEO lost $144m gambling at Imperial Pacific casino老总赌博输掉十几亿，金立手机要死了 时间:2018-12-03 单词数:2230
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A Chinese tech tycoon is denying that his ten-figure gambling losses at Saipan’s Imperial Pacific casino are to blame for the near-bankruptcy of smartphone maker Gionee.
Last weekend, Chinese business media outlet Securities Times published an interview with Gionee chairman/CEO Liu Lirong in which he denied reports that he’d lost up to RMB10b (US$1.44b) gambling at the Imperial Pacific Resort casino on the island of Saipan.
Gionee, which holds 6% of China’s smartphone market, is teetering on the verge of bankruptcy, with around RMB17b in debts on its balance sheet. Suppliers have cut off the company after several months of non-payments, leaving the company’s future severely in doubt.
In January, a court in the Chinese city of Dongguan ordered a two-year freeze of Liu’s 41% stake in Gionee, reportedly based on growing awareness of the exec’s mounting gambling debts.
Liu said the rumors of his gambling debts were greatly exaggerated, saying “how could I possibly lose” the reported RMB10b sum. Liu added that if the rumors were true, Imperial Pacific International’s Hong Kong-listed shares “should have surged” instead of falling by half since the start of the year.
Liu did admit that he’d lost “a bit more than RMB1b” ($144m) from his gambling activity.
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