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Stock impact report

Macau casino shares tumble amid arrests, junket mogul detained [Reuters]

MGM Resorts International (MGM) 
Last mgm resorts international earnings: 4/30 04:15 pm Check Earnings Report
US:NYSE Investor Relations: investors.mgmresorts.com
Company Research Source: Reuters
and money laundering, with the founder of the gaming hub's biggest junket operator among those detained. Shares in MGM China (2282.HK) plunged 10%, while Wynn Macau (1128.HK) lost 7.8% and Sands China (1928.HK) fell 5.3% as investors fretted about the near-term potential loss of business as well as the longer-term implications of the watershed hardline stance being taken towards the sector by authorities in Macau and mainland China. Alvin Chau, the founder of Suncity - a junket operator that brings in high rollers to play at casinos, extending them credit and collecting on their debts - as well as the CEO of gambling sector investment firm Suncity Group Holdings (1383.HK) , was among those arrested, Macau broadcaster TDM reported. Macau authorities have previously said police were questioning a 47-year-old businessman surnamed Chau, without elaborating on his identity. On Friday authorities in Wenzhou, a city in eastern China, issued an arrest warrant for Alvin Chau, accusing Show less Read more
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