HONG KONG—Trade in shares of Macau’s Suncity Group Holdings Ltd. and its unit Summit Ascent Holdings Ltd. were suspended on Thursday, pending a statement in relation to a possible loan default. Alvin Chau, Suncity’s CEO as well as the founder of Macau’s biggest operator of junkets that bring in high rollers to play at casinos,…
Macau’s Suncity Shares Halted, Pending Statement on ‘Possible Loan Default’
Behind the Arrest of Macau’s ‘Junket Mogul’: Focus on Money Laundering
News Analysis Alvin Chau Cheok-wa, the head of Macau’s biggest casino junket operator Suncity Group, was arrested last week along with 10 others for allegedly running illegal cross-border gambling and a money-laundering syndicate. Junket operators are outfits that bring in high rollers to play at casinos. According to Macau police, all of the arrested have…
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