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Travel & Leisure

Suncity shares plunge after Macao arrests gaming group chairman

Company warns loss of founder Alvin Chau's support will have 'adverse affects'

Suncity's listed units have denied soliciting Chinese gamblers to go to the group's Tigre de Cristal casino hotel near Vladivostok, Russia.    © Reuters

HONG KONG -- Shares of companies linked to a detained Macao gambling tycoon plunged on Tuesday as trading of the stocks resumed in Hong Kong for the first time since Friday, when a warrant was issued for his arrest.

Macao prosecutors said on Monday they had detained Alvin Chau and four associates for allegedly setting up an illegal livestream gambling platform in the Philippines to lure mainland Chinese, as the result of an investigation begun in 2019. They said Chau was also suspected of leading a criminal group and money laundering but said six other associates had been released. 

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