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Delayed Hong Kong Stock Exchange  -  05/12 04:08:15 am EDT
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03/29Suncity Group Holdings Limited Reports Earnings Results for the Full Year Ended December 31, 2021
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Macau arrests 11 people for alleged illegal gambling and money laundering

11/28/2021 | 09:30am EDT

HONG KONG, Nov 28 (Reuters) - Macau police said on Sunday they had arrested 11 people in an investigation into an illegal gambling and money-laundering syndicate, a day after businessman Alvin Chau https://www.reuters.com/world/china/chinas-wenzhou-issues-arrest-warrant-macau-junket-mogul-chau-2021-11-27, who organises trips to Asian casinos for big spending gamblers, was questioned at a police station.

The police said in a statement that people involved in the case acknowledged the group had operated gambling websites or telemarketing activities in other places.

Hong Kong's South China Morning Post reported that at a news conference on Sunday, Macau's judiciary police did not name the individuals but said they included a 47-year-old Macau businessman surnamed Chau.

It was not clear if this was Alvin Chau, who is chairman of Suncity Group Holdings Ltd. He is also the founder of a separate legal entity also called Suncity, the special administrative region's biggest "junket operator", which runs VIP gambling rooms across Asia.

Junket operators are go-betweens who bring high rollers to play at casinos, extending them credit and collecting on their debts. Macau itself is known as the Las Vegas of Asia and has grown rich from the gambling industry.

The Suncity junket operator could not be reached for comment. Representatives of the Hong Kong-listed Sun City Group Holdings could not be reached by phone and did not respond to email inquiries seeking comment on the company's or Chau's behalf.

A Macau judiciary police duty spokesperson did not respond to phone calls seeking comment.

Authorities in the eastern Chinese city of Wenzhou said on Friday that an investigation had found Alvin Chau formed a junket agent network in the mainland to help citizens engage in offshore and cross-border gambling activities.

The Macau government said on Saturday he was taken to the police station for questioning, based on earlier evidence and after it received a notification about the arrest warrant from the mainland authorities.

GGRAsia, a news outlet on the Asia casino industry, quoted a Suncity spokesperson as saying by email early on Saturday: "All businesses are normally operating in accordance with the law and under the supervision of the Macau Special Administrative Region Government."

Chau is also a controlling shareholder of Sun Entertainment Group Ltd., a film production and cremation services firm, which said in a Sunday exchange filing its board had noted news coverage about the investigations in Wenzhou and Macau.

"The Board wishes to emphasis that the News Coverage is relating to the personal affairs of Mr. Chau. The Board is of the view that the Incident does not have any material impact on the financial position, business nor operation of the Group," the filing said. (Reporting by Alun John; Editing by William Mallard and Angus MacSwan)

© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
SUN ENTERTAINMENT GROUP LIMITED 0.00% 0.066 End-of-day quote.-10.81%
SUNCITY GROUP HOLDINGS LIMITED -5.08% 0.056 Delayed Quote.-55.56%
03/29Suncity Group Holdings Limited Reports Earnings Results for the Full Year Ended Decembe..
03/24Suncity to Swing to Loss in 2021; JV Defaults on $30 Million Loan; Shares Fall 5%
03/23Suncity Group Holdings Limited Provides Consolidated Earnings Guidance for the Year End..
03/20SUNCITY GROUP HOLDINGS LIMITED(SEHK : 1383) dropped from S&P Global BMI Index
03/16Summit Ascent Forecasts Wider Loss in 2021; Shares Slide 5%
02/02Macau's Gaming Revenue Plunges 21% in January to $791 Million
01/31Macau Legend CEO Arrested Amid Crackdown on VIP Gaming; Shares Tank 19%
01/30Macau Legend shares fall 16 pct after CEO arrested
01/30Police arrest Macau's No 2 junket boss in crackdown
2021Macau Casinos Should Bank on Mass-Market Gamers After Shutdown of VIP Rooms, Analysts S..
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P/E ratio
Capitalization 318 M 47,6 M 47,6 M
EV / Sales -1
EV / Sales 0
Nbr of Employees 1 103
Free-Float 25,0%
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King Yan Chiu Chief Financial Officer & Secretary
Kam Fun Wu Independent Non-Executive Director
Kin Chuen Tou Independent Non-Executive Director
Wai Tung Lo Independent Non-Executive Director
Kai Bong Lo Executive Director