Suncity Group Holdings halts its travel business Link copied
Troubled junket operation, whose former boss Alvin Chau is in custody, ceases travel business which had made up around 12% of its total revenue.
Suncity Group Holdings Limited told the Hong Kong Stock Exchange on Friday that it has decided to cease all its travel and related business with immediate effect, which had accounted for around 12.6 per cent of the total revenue from its continuing operations last year.
Suncity revealed that its aircraft was “disposed of” on 31 December last year.
Two former junket company bosses have been remanded in custody for suspected money laundering and organised crime activities – Suncity’s Alvin Chau Cheok Wa and Tak Chun’s Levo Chan Weng Lin.
Meanwhile, junket operator Macao Golden Group, which cooperated with SJM, announced last month that it decided to terminate all VIP gaming operations from 30 March.
According to unconfirmed media reports last week, Golden Dragon Group of former lawmaker Chan Meng Kam will close its four satellite casinos later this year, The Macau Post Daily reported.