Good morning. It’s the end of the Suncity era, with Alvin Chau being sentenced to 18 years in prison for the junket’s illicit operations, a decision which his representatives believe he will appeal. Despite avoiding a much-higher possible penalty, the methodology used to convict Chau and his fellow defendants should lend an air of caution to any current or future VIP operator. Also in Macau, Chinese New Year expectations are high, with the city ramping up to receive at least 47k daily visitors.
What you need to know
- Alvin Chau expected to appeal 18-year prison sentence handed down by court in Suncity trial. Operators getting millions in compensation.
- Macau prepares itself for 47k daily tourists during Chinese New Year, expected to peak on January 24th.
On the radar
- Delta Corp sees drop in share prices after 4Q22 results come out.
- PH authorities: ‘Chinese mafia’ still operating crypto scheme.
- Cambodia expecting 4mln tourists in 2023, 1mln from China.
Macau’s courts have sent a resounding clarion call to anyone operating in the junket-sphere, with formerly untouchable junket boss Alvin Chau being handed an 18-year prison sentence, one that he is likely to appeal. Fellow defendants are also likely to challenge the court’s decision, after receiving steep sentences for their involvement in what was loosely deemed a gang association responsible for illicit gaming in the SAR’s casino establishments.