Good Morning. No such thing as a free lunch. Suncity’s former head Alvin Chau faced the music for his involvement in Macau’s explosive growth, with his 18-year prison sentence confirmed and compensation to the government upped to $3.2 billion. This comes despite Chau being absolved of charges of fraud and other defendants having punishments lessened. Meanwhile, in shinier news, Light & Wonder has acquired the remaining shares in its social casino arm SciPlay, cementing a long-desired push.
What you need to know
- Macau Court acquits Suncity’s former boss of fraud, seals 18-year prison term with no reduction, gov’t compensation increases to $3.2 billion.
- Light & Wonder has announced that it has acquired the remaining public shares of SciPlay, its social gaming arm.
On the radar
- LET Group completed $2.8 million sale of mall operator in Mainland China.
- Imperial Pacific International manager and director resigns.
- Sikkim court: halt on $76 million tax claim against Delta Corp.
AGB Intelligence
JUNKETS
Court ups Suncity boss’ dues, 18-year sentence sealed
Macau courts have sealed the fate of former Suncity junket boss Alvin Chau, cementing his 18-year sentence despite acquitting him of fraud. The former socialite has also seen the values of his companies’ dues to the Macau government increase, to $3.2 billion, over alleged money laundering and illicit gaming offenses, tied to other respondents in the case against Suncity.
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