Gambling group Suncity's shares set to fall 37.3% after chairman arrested

LET group

30/11/2021 01:20

HONG KONG, Nov 30 (Reuters) - Shares of Macau gambling group
Suncity Group Holdings Ltd  1383.HK  were set to slide 37.3% in
resumed trade on Tuesday after its chairman was arrested over
alleged links to cross-border gambling and said he intended to
resign from the company. 
    Alvin Chau, who is also the founder of Suncity - a junket
operator that brings in high rollers to play at casinos,
extending them credit and collecting on their debts - was
arrested by Macau police on Sunday.  urn:newsml:reuters.com:*:nL1N2SJ08Z  urn:newsml:reuters.com:*:nL1N2SK01P
    Suncity's stock was set to open at HK$0.16, its lowest level
since 2016.

 (Reporting by Eduardo Baptista and Anne Marie Roantree; Editing
by Christopher Cushing)
 ((annemarie.roantree@thomsonreuters.com; +852 97387151; Reuters
Messaging: annemarie.roantree.thomsonreuters.com@reuters.net))