Macau gambling group Suncity hits record low; gaming stocks slide

LET group

02/12/2021 03:25

** Shares of Macau gambling group Suncity Group Holdings
 1383.HK  fall as much as 20.5% to a record low of HK$0.105 
    ** Stock has plunged 54.1% so far this week 
    ** Suncity confirmed its chairman Alvin Chau, who was
arrested over alleged links to cross-border gambling by Macau
police on Sunday, resigned  urn:newsml:reuters.com:*:nL1N2SM028
    ** One of the sources said Suncity operated VIP rooms in
properties owned by all six of Macau's licensed casino operators
- Wynn Macau  1128.HK , Sands China  1928.HK , MGM China
 2282.HK , SJM  0880.HK , Melco Resorts  MLCO.O  and Galaxy
Entertainment  0027.HK 
    ** MGM Resorts  MGM.N  said Suncity's operations were
suspended at the casino company's properties and that it was
seeing no dramatic impact from the action  urn:newsml:reuters.com:*:nL4N2SM40R
    ** Stock of MGM China, Galaxy, SJM, Melco  0200.HK , Wynn
Macau, and Sands China slide between 0.4% and 2.2%
    ** Shares of Suncity's unit Summit Ascent  0102.HK  gains
0.6% while Sun Entertainment  8082.HK  falls 8.3% 


 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))