{"id":141555,"date":"2020-07-13T11:08:04","date_gmt":"2020-07-13T18:08:04","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=141555"},"modified":"2020-07-13T13:11:12","modified_gmt":"2020-07-13T20:11:12","slug":"macau-junket-suncity-denies-funding-hong-kong-pro-democracy-rioters","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/macau-junket-suncity-denies-funding-hong-kong-pro-democracy-rioters\/","title":{"rendered":"Macau Junket Suncity Denies Funding Hong Kong Pro-Democracy Rioters"},"content":{"rendered":"

Macau super-junket Suncity Group has moved to quash online rumors that it supports the Hong Kong independence movement and that it has given financial backing to pro-Democracy protesters and rioters in the special administrative region (SAR).<\/p>\n

\"Suncity
Alvin Chau offered a rare glimpse into the finances of Suncity\u2019s junket business as he sought to scotch rumors of financial pressure. (Image: YouTube)<\/figcaption><\/figure>\n

In a rare public statement given by video link late Sunday, Suncity CEO Alvin Chau<\/a> denounced additional rumors that the Chinese government is investigating the company\u2019s mobile app. The app allowed authorities on the mainland access to sensitive information about its high-rolling clients.<\/p>\n

He also dismissed talk on social media platforms that the Suncity VIP Club was unable to cover its clients\u2019 financial deposits because of the economic pressures of the coronavirus.<\/p>\n

\u2018No Investigation, No Data Breach\u2019<\/strong><\/h2>\n

Suncity is the biggest operator in Macau\u2019s multibillion-dollar junket industry, which organizes casino trips largely for Chinese high rollers. It lends them gambling money so they can circumvent strict rules on the movement of cash outside of mainland China.<\/p>\n

Under Chau\u2019s stewardship, the group has grown<\/a> into an international conglomerate, with interests in everything from real estate to resort development and movie production.<\/p>\n

And while its core business model may not exactly endear it to the Politburo in Beijing, Chau denied the existence of a \u201cnationwide anti-crime operation\u201d that rumormongers had claimed was targeting Suncity.<\/p>\n

He also assured Suncity’s wealthy clients that data had not been breached and their personal information was safe.<\/p>\n

As an institution lawfully registered in Macau and regulated by the Macau Personal Data Protection act. Suncity Group is strictly forbidden to disclose any customer information,\u201d <\/strong>Chau\u00a0said.<\/p><\/blockquote>\n

\u201cI think everyone knows that the mobile app is just software and no customer information is stored in the system, nor does it save customer information. Our server is placed in Macau. Here I can assure all of you, we have never encountered any leakage of information,\u201d he added.<\/p>\n

Billions Banked<\/strong><\/h2>\n

Chau said the company\u2019s financial situation has been \u201cvery stable\u201d throughout the coronavirus pandemic, adding it had enough capital to cover the chip deposits of all its clients and offset any bad debt.<\/p>\n

\n

As of a few days ago, Suncity had a cash flow in its VIP rooms of HK$18.6 billion ($2.4 billion). Fiscal reserves over the past 14 years stood at HK$10.58 billion ($1.4 billion), and there was HK$16.5 billion ($2.1 billion) in the bank, Chau said.<\/strong><\/p>\n<\/div>\n

The figures offered a rare glimpse into the finances of the world\u2019s biggest junket operation. While Suncity Group Holdings is listed on the Hong Kong Stock Exchange, this does not include its junket business, which means it is not required to disclose figures to investors.<\/p>\n

\u2018Devoted to Motherland\u2019<\/strong><\/h2>\n

Chau deflected the \u201cabsurd and unreasonable\u201d accusations that he had subsidized Hong Kong rioters by showcasing photos of various patriotic events in which Suncity had participated.<\/p>\n

I was born and raised in Macau, and my company is also deeply rooted in Macau, with wholehearted devotion to the Motherland,<\/strong>\u201d he said. \u201cWhat would be my reasons for subsidizing Hong Kong rioters and why would I jeopardize my country?\u201d<\/strong><\/p><\/blockquote>\n

Twelve months ago, Suncity was denounced by Chinese state media for targeting mainland citizens with multibillion-dollar online gambling and proxy betting operations based out of the Philippines and Cambodia. Chau apologized<\/a> for offending the Chinese government but also denied that Suncity operated online gambling.<\/p>\n

On Sunday, he reiterated that his company has always complied with the laws of Macau and that none of its employees are stationed on the mainland in any gaming-related capacity. Nor had Suncity ever participated in any underground financial transactions, he said.<\/p>\n

He condemned the \u201cmalicious intention\u201d of rumormongers who sought to \u201cundermine the economy of Macau.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Macau super-junket Suncity Group has moved to quash online rumors that it supports the Hong Kong independence movement and that it has given financial backing to pro-Democracy protesters and rioters in the special administrative region (SAR). In a rare public statement given by video link late Sunday, Suncity CEO Alvin Chau denounced additional rumors that […]<\/p>\n","protected":false},"author":36,"featured_media":141557,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,61],"tags":[],"acf":[],"yoast_head":"\nMacau Junket Suncity Denies Funding Hong Kong Pro-Democracy Rioters<\/title>\n<meta name=\"description\" content=\"Suncity CEO, Macau junket operator Alvin Chau, denies company supports the Hong Kong demonstrators, or that it is under investigation by Chinese government.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Macau Junket Suncity Denies Funding Hong Kong Pro-Democracy Rioters\" \/>\n<meta property=\"og:description\" content=\"Suncity CEO, Macau junket operator Alvin Chau, denies company supports the Hong Kong demonstrators, or that it is under investigation by Chinese government.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/macau-junket-suncity-denies-funding-hong-kong-pro-democracy-rioters\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2020-07-13T18:08:04+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-07-13T20:11:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/07\/alvin.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1513\" \/>\n\t<meta property=\"og:image:height\" content=\"813\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Philip Conneller\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@casinoorgphilc\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Philip Conneller\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/macau-junket-suncity-denies-funding-hong-kong-pro-democracy-rioters\/\",\"url\":\"https:\/\/www.casino.org\/news\/macau-junket-suncity-denies-funding-hong-kong-pro-democracy-rioters\/\",\"name\":\"Macau Junket Suncity Denies Funding Hong Kong Pro-Democracy Rioters\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/macau-junket-suncity-denies-funding-hong-kong-pro-democracy-rioters\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/macau-junket-suncity-denies-funding-hong-kong-pro-democracy-rioters\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/07\/alvin.jpg\",\"datePublished\":\"2020-07-13T18:08:04+00:00\",\"dateModified\":\"2020-07-13T20:11:12+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/58769b72851c8cf117fb58ca150ebf8b\"},\"description\":\"Suncity CEO, Macau junket operator Alvin Chau, denies company supports the Hong Kong demonstrators, or that it is under investigation by Chinese government.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/macau-junket-suncity-denies-funding-hong-kong-pro-democracy-rioters\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/macau-junket-suncity-denies-funding-hong-kong-pro-democracy-rioters\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/macau-junket-suncity-denies-funding-hong-kong-pro-democracy-rioters\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/07\/alvin.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/07\/alvin.jpg\",\"width\":1513,\"height\":813,\"caption\":\"Alvin Chau offered a rare glimpse into the finances of Suncity\u2019s junket business as he sought to scotch rumors of financial pressure. 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