An auction is to take place tomorrow of properties once owned by jailed “junket king” Alvin Chau, according to multiple media reports.
The sale of 36 properties – most of them car parking spaces with prices set from 1.13 to 1.18 million patacas each – was to have taken place last September but was called off due to a lack of bidders.
That same month, a government auction of two plots of land in Taipa attracted just one bid.
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The second attempt to auction Alvin Chau’s properties, which have a combined value of 600 million patacas, comes in the wake of speculation that the Hong Kong Stock Exchange may delist two companies he once controlled.
Chau, the founder of junket operator Suncity Group, was sentenced to 18 years in prison in January 2023 after being found guilty of dozens of counts of illicit gambling activities, fraud and involvement in a criminal organisation.
He was acquitted of the fraud charges after an appeal last October, but was ordered to pay greater compensation to the local government and the territory’s gaming operators in respect of his other convictions.
