Suncity Group's gaming lounges shut down by Macau’s regulator
The Gaming Inspection and Coordination Bureau regulator has confirmed the temporary closure of all local VIP gaming lounges operated in Macau, by junket firm Suncity Group.
Sources say the shuttering commenced after the boss of the firm, Alvin Chau Cheok Wa, was arrested by Chinese officials for allegedly helping to facilitate illegal cross-border gambling.
The 47-year-old billionaire is being investigated for supposedly running an illicit iGaming operation in the Philippines.
Sources added Chau had announced he would be resigning from his leadership position with Asian casino investor Suncity Group.
An official representative [of the Gaming Inspection and Coordination Bureau] announced the temporary suspension of the VIP lounges operated by Suncity Group. MGM Resorts International (which is responsible for the MGM Macau and the MGM Cotai properties via its MGM China Holdings subsidiary) disclosed it had suspended its cooperation agreement with the junket firm.
Macau’s Labour Affairs Bureau admitted to being “concerned” about the issue involving the boss of Suncity Group, stating its intention to contact the company to gain information regarding the status of numerous of its workers.
For now, it is unclear how this incident will affect the employment market in Macau and the impact of the closure of the operations is yet to be measured. Sources also mentioned how this uncertainty is even more complex than expected, as the Suncity Group is active within a number of other local industries including the travel and restaurant sectors.