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HONG KONG (Reuters) - Shares of Macau gambling group Suncity Group Holdings Ltd plunged to a record low in resumed trade on Tuesday after its chairman...
HONG KONG (Reuters) - Shares of Macau gambling group Suncity Group Holdings Ltd plunged to a record low 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.
Shares of Macau gambling group Suncity Group Holdings Ltd slumped 40% in resumed trade on Tuesday after its CEO was arrested over alleged links to cross-border gambling. The company said he intends to resign.
Analysts say Alvin Chau's arrest heralds a new era of zero tolerance towards the promotion of gambling in China, where all forms of gambling are illegal