![]() ![]() These developments came after Chinese public security authorities cracked cases related to cross-border gambling involving Chau, who admitted the opening of casinos on the Chinese mainland and facilitating Chinese citizens to gamble overseas. Shares in another company in Chau's group, holding company Summit Ascent Holdings, fell a further 9.5 percent on Tuesday after being suspended from trading on Monday.Ĭhau remains the CEO and effective controller of Suncity Group, of which Summit Ascent Holdings is a non-wholly owned subsidiary, according to media reports. Suncity Group said in the early hours of Tuesday that it would close all the VIP lounges except those at the StarWorld Hotel and Galaxy Macau, local media outlet the Macao Daily reported. Trading in the shares of Suncity Group on the Hong Kong stock exchange was suspended on Wednesday after a precipitous fall on Tuesday. ![]() The world's largest gambling hub, the Suncity Group, reportedly closed all of its VIP gaming rooms in Macao on Tuesday, after the company's founder and casino tycoon Alvin Chau Cheok Wa was arrested on illegal gambling charges. ![]() Suncity Group, the world's largest gambling hub, the founder of which is casino tycoon Alvin Chau Cheok Wa Photo: VCG ![]()
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