Macau gambling group Suncity jumps; Melco leads slide in gaming stocks

LET group

13/12/2021 02:43

** Shares of Macau gambling group Suncity Group Holdings Ltd
 1383.HK  reverse early losses and jump as much as 18.1% to
HK$0.163, the biggest daily pct gain since Dec. 3
    ** Stock among the top 30 gainers on the Hong Kong bourse
    ** The embattled gambling group says lenders had demanded
full repayment of loans of HK$313.6 mln ($40.2 mln) within five
business days from Dec. 8 and it may lead to a change in control
of Suncity if the lenders legally enforces repayment of the
loans   urn:newsml:reuters.com:*:nL4N2SV2MA
    ** The loan taken on by Star Soul Investments was guaranteed
by Alvin Chau, the now-detained owner of the company, and also a
former chairman and director of Suncity Group 
    ** Suncity's hotel operating unit Summit Ascent Holdings
 0102.HK  fall as much as 13.9% to HK$0.13, their lowest since
February 2007 
    ** Earlier this month, Chau's junket operations closed all
of its VIP gambling rooms in Macau in the wake of his arrest
 urn:newsml:reuters.com:*:nL1N2SN02X
    ** Melco  0200.HK  leads slide in Macau gaming shares,
falling 2.2%; Shares of Sands China  1928.HK , Galaxy  0027.HK ,
MGM China  2282.HK , SJM  0880.HK  and Wynn Macau  1128.HK  down
between 0.2% and 1.6% 
    ** Hang Seng Commerce & Industry Index  .HSNC  rises 1.7%
and Hang Seng Index  .HSI  gains 1.1%

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