If convicted, Chau who was once Macao’s high-flying junket operator could face eight to 15 years behind bars.
suncity group
Workers who once earned MOP 20,000 monthly now scraping by, suffering from depression and contemplating selling off their assets.
Troubled junket operation, whose former boss Alvin Chau is in custody, ceases travel business which had made up around 12% of its total revenue.
Group sent memo to staff noting ‘careful consideration’ and ‘grievous’ nature of the move.
Workers hired by subsidiaries worried they may not be eligible for unemployment subsidy; fears for more gaming industry layoffs in future.
Macao-based media executive believed to be close to Alvin Chau, troubled founder of Suncity Group who is currently remanded in custody.
Troubled chairman, currently remanded in custody, quits as casinos sever ties with group; trading in shares resumes this morning.
News doubly welcome in wake of Suncity debacle, however, government still 40 per cent short of its MOP 130 billion gross gaming receipts target.
Stock plunged to HK$0.13 yesterday; further announcement from board of directors expected soon. Salaries halted for one-third of company’s staff.