Thursday, May 26, 2022

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Suncity executive director Andrew Lo new company owner after Alvin Chau sale

Suncity Group Holdings executive director Andrew Lo is the new majority shareholder in the group after former CEO Alvin Chau offloaded his stake.

Star legal counsel reveals board briefed on Suncity in un-minuted meetings

Star Entertainment’s chief legal counsel has revealed that serious concerns about junket operator Suncity may have been discussed with the board in un-documented calls.

Suncity terminates travel-related services business

Suncity Group Holdings said it has terminated its travel and related-services business, which accounted for 12.6 percent of its revenue. 

Suncity says 2021 “dark year,” sees Philippines as a bright spot

Suncity Group Holdings said 2021 was a “dark year” in the country’s history, but it continues to see opportunities in Asia and views its investment in the Philippines as being a bright spot. 

Star moved Suncity operations to unbranded room, inquiry hears

Star Entertainment allowed Suncity to continue operating a junket operation from its Sydney casino, even after its CEO Matt Bekier had told the market in 2019 that it was ending the relationship.

Suncity warns of 2021 loss, says joint venture in default on $30m loan

Suncity Group Holdings said it expects to report a loss of not less than HK$526.5 million for 2021 and said a joint venture company to which it lent money is in default on a loan.

Your Daily Asia Gaming eBrief: Reflecting on Suncity going down and premium mass rising

The abrupt unraveling of Macau’s Suncity late last year following the arrest of its CEO Alvin Chau took everyone by surprise and none more so than long-time Asia executive Michael French.
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Reflecting on Suncity and premium mass rising [video]

The arrest of Suncity CEO Alvin Chau and subsequent unraveling of his empire in late 2021 sent shockwaves through the industry. In this week’s Face-to-Face interview we speak with long-time Asia casino executive Michael French, who had joined just a year prior to Macau's junket crackdown in November 2021.

Suncity Group to report results in HKD, switching from RMB

Suncity Group Holdings said that the group has adopted the Hong Kong Dollar as the presentation currency for its consolidated financial statements for the year ended 31 December 2021 and going forward.

Trade union calls for federal probe into Suncity ties with U.S. operators

A U.S.-based trade union, known as the International Union of Operating Engineers, Local 501 has called for a U.S. federal investigation into junket operator SunCity Group and its historical relationships with U.S. gaming companies.