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2021-11-30

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Macau gambling group Suncity's shares hit record low after chairman arrested

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMacau gambling group Suncity's shares hit record low after chairman arrested\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-30 10:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/world/asia-pacific/macau-gambling-group-suncitys-shares-hit-record-low-after-chairman-arrested-2021-11-30/><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of Macau gambling group Suncity Group Holdings Ltd(1383.HK)plunged to a record low in resumed trade on Tuesday after its chairman was arrested over alleged links to cross-border gambling and ...</p>\n\n<a href=\"https://www.reuters.com/world/asia-pacific/macau-gambling-group-suncitys-shares-hit-record-low-after-chairman-arrested-2021-11-30/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"01383":"LET GROUP"},"source_url":"https://www.reuters.com/world/asia-pacific/macau-gambling-group-suncitys-shares-hit-record-low-after-chairman-arrested-2021-11-30/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145597906","content_text":"Shares of Macau gambling group Suncity Group Holdings Ltd(1383.HK)plunged to a record low in resumed trade on Tuesday after its chairman was arrested over alleged links to cross-border gambling and said he intended to resign from the company.\nAlvin Chau, who is also the founder of Suncity - a junket operator that brings in high rollers to play at casinos, extending them credit and collecting on their debts - was arrested by Macau police on Sunday.\nSuncity's stock slid to a record low of HK$0.133, its lowest since its listing in 2007.\nOn Friday authorities in Wenzhou, a city in eastern China, issued an arrest warrant for Chau, accusing him of operating gambling activities in mainland China where gambling is illegal.\nPart of the investigation involves Russia's Tigre de Cristal resort which is close to China's northeast border and is controlled by Hong Kong-listed Summit Ascent Holdings(0102.HK), of which Suncity is the controlling shareholder.\nShares of Summit Ascent slid nearly 50%.\nSuncity said in a statement late on Monday that the allegation that Tigre de Cristal was involved in cross-border gaming by soliciting customers in mainland China was untrue.\nThe company's operations would not be impacted in the event that it ceased to have Chau's support, it added.\nMacau's prosecutor's office said in a statement on Monday the group was also suspected to have used the world's largest gambling hub as a base for an illegal \"live web betting platform\" in the Philippines that attracted mainland Chinese.\nSome analysts say Suncity accounts for roughly a quarter of Macau's gambling revenue.","news_type":1},"isVote":1,"tweetType":1,"viewCount":511,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":7,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/609388857"}