. Macao Casino Shares Tumble After Police Arrest Suncity Founder « JO LEE MAGAZINE

Macao casino stocks slid on Monday, rattled by the arrests of 11 people over alleged links to cross-border gambling and money laundering, with the founder of the gaming hub’s biggest junket operator among those detained.

Shares in MGM China (MCHVF) plunged 10%, while Wynn Macau (WYNMF) lost 7.8% and Sands China (SCHYF) fell 5.3% as investors fretted about the near-term potential loss of business as well as the longer-term implications of the watershed hardline stance being taken towards the sector by authorities in Macao and mainland China.
Alvin Chau, the founder of Suncity — a junket operator that brings in high rollers to play at casinos, extending them credit and collecting on their debts
VCG




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