Tuesday, June 25, 2024
HomeNewsMacau court auctions Alvin Chau’s 36 properties for nearly $74 million 

Macau court auctions Alvin Chau’s 36 properties for nearly $74 million 

Courts in Macau are auctioning off some 36 properties from former Suncity junket head Alvin Chau to repay his debt of $810 million.

According to notifications on the court’s website, assets under Alvin Chau and a linked company entitled “Tai Tak Lei” were ordered to auction their assets worth nearly $74 million (MOP 592 million), which includes 31 car parking spaces and five commercial properties. 

The car parking spaces were put up for auction at a starting price of up to MOP1,184,500 ($147,000) each. And the commercial properties’ starting price stands between MOP55 million ($7 million) to MOP177 million ($22 million).

The proposal is open to the public, and the court sets a deadline of September 11th.  The court’s note also shows that the name of the creditor is “U Lai Wan”. 

Alvin Chau was chairman of Macau’s largest junket operator Suncity — which brokered the gambling activity of Chinese high rollers — until December 2021, a month after his arrest.

He was sentenced to 18 years in jail this January after he was found guilty of 162 charges, including enabling and operating illegal gaming. 

Viviana Chan
Viviana Chanhttps://agbrief.com/
Viviana Chan is an editor, interpreter, and journalist. With over a decade of experience, she writes in English, Chinese, and Portuguese. Viviana started her career in Macau-based newspapers, where she became passionate about the region's social, financial, and cultural development. Her writing focuses on the economy, emerging industries, gaming development, political affairs, and cross cultural-exchange in the business and cultural domains. She is avid for news and eager to discover and cover stories that generate public relevance.

MORE ARTICLES

FOLLOW US

daily newsletter