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Suncity, the biggest junket operator in Macau, has shut gaming rooms after its CEO was arrested, sending shares down to record lows

Posted On: Jan 17, 2022   |   Posted By: Business Insider

Booth of Macau junket operator Suncity Group at a gaming fair. Bobby Yip/Reuters
Suncity said its gaming rooms have closed as of December 1.
The company confirmed former CEO and chairman Alvin Chau had resigned from all positions at Suncity Group.
Authorities have accused Chau and 10 others of using Macau as a base for an illegal "live web betting platform" in the Philippines that attracted mainland Chinese gamblers.
Shares in Macau's Suncity Group Holdings Ltd tumbled in resumed trade on Thursday after gaming rooms linked to the group were shut following the arrest of its former CEO and chairman, Alvin Chau. Chau, also the founder of Macau's biggest junket operator which brings in high rollers to play at casinos, was arrested with 10 others on Sunday over alleged links to cross-border gambling and money laundering. In a statement released late on Wednesday, Suncity said that gaming rooms operated by a business wholly owned by Chau had closed as of December 1. It also confirmed that Chau had resigned from...

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