Wynn Macau leads plunge in gaming stocks as Suncity closes VIP rooms

LET group

01/12/2021 03:12

** Wynn Macau  1128.HK  leads plunge in Macau gaming stocks,
falling 7.8% to HK$6.41
    ** Stock hits the lowest level since Oct. 12 and on course
for a fourth straight session of decline
    ** Trading in shares of Suncity Group  1383.HK  was
suspended on Wednesday as worries over a crackdown in the
world's largest gambling hub grew  urn:newsml:reuters.com:*:nL1N2SM028
    ** Suncity has closed all VIP gaming rooms in Macau after
its chairman was arrested, two sources with direct knowledge of
the situation told Reuters  urn:newsml:reuters.com:*:nP8N2PH00W
    ** Alvin Chau, founder of Suncity Group, a conglomerate with
interests that span gambling to property, was arrested by Macau
police on Sunday  urn:newsml:reuters.com:*:nL1N2SJ08Z
    ** Suncity unit Summit Ascent Holdings  0102.HK  said late
on Monday Chau had indicated his intention to resign from the
post of chairman 
    ** Galaxy Entertainment  0027.HK  falls 3.5%, the biggest
percentage decliner on the Hang Seng Index  .HSI  and the
biggest decliner on the Hang Seng Commerce & Industry Index
 .HSNC  
    ** MGM China  2282.HK , Melco  0200.HK , Sands China
 1928.HK  and SJM Holdings  0880.HK  fall between 1.4% and 4.7%
    ** Summit Ascent drops as much as 17.6% to HK$0.14, lowest
since February 2007  
    ** The Hang Seng Commerce & Industry Index rises 1.3% and
the benchmark index climbs 1.2%
    

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