Shares of casino operator Macau Legend dive following arrest of CEO

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The Diplomat

Thai Police to Investigate Deputy Chief Accused of Links to Online Gambling

The Royal Thai Police announced yesterday that they will form a committee to investigate the deputy national police chief, who was arrested the day before on accusations of money laundering linked to an online gambling network. Gen. Kitrat Panphet, the acting national police chief, said that he would not immediately suspend Gen. Surachate Hakparn,…

Incidents ・ 04 April 2024

World Casino News

Macau police apprehends 27 people from illegal online gambling organization

On Wednesday, January 11, 2023, Macau's Judiciary Police apprehended 15 locals for supposed connections to an illegal online gambling organization that has reportedly amassed $3.69 billion in bets since 2017. Foreign coordinators: This illegal organization is presumably managed through Macau from computer servers abroad. However, apart from Macau,…

Incidents ・ 14 January 2023

Vegas Slots Online

Chinese Gambling Ring That Laundered $5.6bn Unearthed

Chinese authorities have taken down an enormous, high-profile criminal syndicate in the Hunan province, according to reports. $5.6bn in proceeds were laundered through cryptocurrency The group managed an illegal gambling network and numerous telecommunication scams, from which $5.6bn in proceeds were laundered through cryptocurrency. According to…

Crypto ・ 28 September 2022

European Gaming

Macau Gambling Boss Denies Illegal Gambling, Criminal Syndicate Allegations

A well-known Macau gambling boss in China's special administrative region of Macau denied charges including enabling illegal gaming, running a criminal syndicate and money laundering at the start of his trial on Monday. Alvin Chau was chairman of Macau's Suncity junket - which brokers the gambling activity of Chinese high rollers - until December…

Law ・ 22 September 2022

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Asgam

Suncity executive Cheung Yat Ping denies involvement in online gambling as text records highlight discussions around Philippines proxy betting

A senior executive of Macau junket operator Suncity Group told prosecutors on Wednesday that he and the company were not involved in online gambling, despite text messages of past conversations alluding to the operation of proxy betting in the Philippines. On the third day of the trial of 21 people, including former CEO Alvin Chau, following their…

Jobs ・ 21 September 2022

Vegas Slots Online

Macau Gambling Head Denies Laundering, Illegal Gaming

Alvin Chau, a well-known gambling executive in Macau, denied charges of illegal gaming, money laundering, and running a criminal syndicate during his trial on Monday. arrested on a warrant accusing him of illegal gambling on the Chinese mainland Chau served as the chairman of Macau's Suncity junket, which helps organize activities for Chinese high…

Covid ・ 19 September 2022

The Sydney Morning Herald

Star casino opened door to ‘intrinsic money laundering risks’, inquiry hears

By September 2021, Sharp said, "alarm bells should well and truly have been ringing". "It's really only been in the course of these public hearings that the board has developed real insight into the conduct of senior management and the extent of unsuitable associations and uncontrolled money laundering risks," Sharp suggested. Earlier, the inquiry…

Incidents ・ 02 June 2022

Vegas Slots Online

Why Are Macau Casinos Struggling in Pandemic Recovery?

Commenting in August 2020, analysts from investment bank JP Morgan predicted that the Macau gambling market would begin its road to recovery from the COVID-19 pandemic in mid-August that year. They estimated that casinos would recuperate 2019 levels of gross gaming revenue (GGR) by Q32021, pointing to the easing of travel restrictions and an…

Covid ・ 03 April 2022

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Yogonet

Macau's casino GGR grows 43.7% in 2021; marks nearly a third of pre-pandemic numbers

According to data released by the Gaming Inspection and Coordination Bureau (DICJ), Macau's casinos secured MOP 7.96 million (USD 990.9M) in December, which accounts for a 1.8% increase in a year-over-year comparison. The full-year tally went up by 43.7% to MOP 86.8 billion (USD10.8B). The overall revenue for 2021 accounts for 29.5% of pre-pandemic…

Covid ・ 16 February 2022

Vegas Slots Online

Macau Police Arrest Another Casino Kingpin in Latest Raid

Police in Macau have arrested a casino kingpin with links to fallen junket billionaire Alvin Chau Cheok-wa in a raid that netted HK$4.1m (US$525745). Macau's Judiciary Police (PJ) arrested Macau Legend Development's CEO and controlling shareholder Chan Weng Lin on Friday. Another man, which media sources believe to be Choi Wai Chan, chairman of…

Incidents ・ 31 January 2022

Macau Business

Police arrest two in illegal gambling crackdown, Tak Chun boss Levo Chan among detained

The Judiciary Police (PJ) announced today (Sunday) two people in the junket sector were arrested on Friday for alleged crimes of engaging in illegal gambling activities, running a crime syndicate and money laundering. The authorities did not identify the two suspects, only referring to them as two Macau male residents - one surnamed Chan and aged…

Law ・ 30 January 2022

High Stakes

80,000 Arrests as Chinese Gambling Crackdown Continues

More than 80000 arrests for cross-border gambling were made by the Chinese authorities last year, with over 2200 illegal online gambling platforms shut down in the latest crackdown. The arrests and closures were the result of 17000 separate cases investigated by China's Ministry of Public Security, which also resulted in 1600 illegal payment…

Incidents ・ 25 January 2022

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GGRAsia

Junkets to find players beyond China: Clark casino boss

VIP gaming promoters, and in particular the ones based in Macau, will "find a way" to serve high-value customers from outside mainland China, says the boss of the newly-revamped Hann Casino Resort in Clark, in the Philippines. "I think junket operators in Macau will find a way to spread out in different jurisdictions" serving players other than…

Covid ・ 10 January 2022

Gambling News

Wynn Macau and Melco Resorts Severed Ties with Junkets

Two of the six casino licensees in Macau, Wynn Macau and Melco Resorts, confirmed to have completely cut their ties with junket operators, an article in GGRAsia revealed. The junket sector has been seriously hit after the arrest of Suncity chief executive officer Alvin Chao last month when analysts predicted the detention and the shutdown of…

Travel ・ 29 December 2021

Gambling News

NSW's Chief Gambling Regulator Asks for Money Laundering Investigation into Pub Slots

Independent Liquor and Gaming Authority chairman Philip Crawford has recently asked for a complex investigation into the suspicion of money laundering activities unfolding inside non-gaming venues in New South Wales. The alleged money laundering activities would occur through slot machines. Colloquially called the "poker machine capital of…

Law ・ 14 December 2021

Gambling News

Italian Police Arrested 12 Illegal Gambling Operation Suspects

The Italian federal police have caught 12 people who are suspected of being connected to illegal gambling websites, possibly operated by the Mafia. According to the police, the arrestees are a part of an illegal gambling ring and were processing illegal online bets to Maltese operators who are unlicensed to take wagers in Italy. Investigators…

Law ・ 03 December 2021

Asgam

Suncity’s Philippines subsidiary says Manila hotel-casino development unaffected by Alvin Chau arrest

Development of Suncity Group's US$1 billion Manila hotel and casino project will continue as planned despite the arrest of Suncity Chairman Alvin Chau this week, according to the group's Philippines subsidiary. In response to queries from the Philippine Stock Exchange, Suntrust Home Developers Inc, which is 51% owned by Suncity, said it "does not…

Incidents ・ 02 December 2021

Radio Free Asia

China arrests Macau casino chief in crackdown on cross-border gambling

Macau's Suncity casino operator has shut down its VIP rooms following the arrest of CEO Alvin Chau on suspicion of cross-border gambling and money-laundering, Reuters reported on Wednesday, as the ruling Chinese Communist Party (CCP) seeks to curb what it sees as a dangerous outflow of capital from mainland China. The move will slash the number of…

Incidents ・ 01 December 2021

Reuters

Macau gambling group Suncity's shares plunge after CEO arrested

HONG KONG, Nov 30 (Reuters) - Shares of Macau gambling group Suncity Group Holdings Ltd (1383.HK) slumped 40% in resumed trade on Tuesday after its CEO was arrested over alleged links to cross-border gambling. The company said he intends to resign. Alvin Chau, also the founder of Macau's biggest junket operator which brings in high rollers to play…

Industry ・ 30 November 2021

Barron's

Macau Casino Stocks Tumbled Again. Crackdown Fears Are Back.

Shares in Macau's casino operators tumbled on Monday, after the chairman of junket operator Suncity Group was reportedly held by police amid allegations of illegal gambling and money laundering. Alvin Chau was one of 11 people held for questioning, Macau police said Sunday, after authorities in mainland China issued a warrant for his arrest, the…

Finance ・ 29 November 2021

Aljazeera

Macau police arrest 11 for alleged illegal gambling

Arrests come a day after junket mogul Alvin Chau is questioned by police in the special administrative region. Macau police said they had arrested 11 people in an investigation into an illegal gambling and money-laundering syndicate, a day after businessman Alvin Chau, who organises trips to Asian casinos for big-spending gamblers, was questioned…

Law ・ 29 November 2021

Reuters

Macau's digital yuan plans deal fresh blow to casino junkets

Macau's plans to use China's future digital currency will help Beijing curb money laundering in the world's top gambling hub but could deal a fatal blow to casino junket operators. These companies, who help lure high rollers to Macau, have been on the ropes since Beijing identified the cross-border flow of funds for gambling as a national security…

Travel ・ 09 May 2021

Cryptoslate

Macau’s high-rolling casino industry faces a digital currency threat

The island-nation of Macau is inching closer to the launch of its state-backed digital currency as it looks to shed off money launderers and fraudsters from the casinos and gambling dens that dot the city, as per a report today on Bloomberg. Dubbed the'Vegas of the East,' Macau sees billions of dollars flow through its high-profile casinos and…

Industry ・ 11 May 2021

Bangkok Post

Investigators await totals in online gambling kingpin's bank accounts

The Department of Special Investigation (DSI) has not yet been informed of the amount of money in eight bank accounts frozen in connection with cases against Panthawat Nakwisut, who has been charged with money laundering and colluding in online gambling, according to a DSI press release. The DSI issued the release on Sunday after a question was…

Incidents ・ 12 February 2023