Shares in Macau’s biggest listed casino groups fell sharply on Monday and the Chinese gambling hub’s biggest junket operator suspended trading following the arrest of its chief executive at the weekend.
Alvin Chau, chair of Suncity Group, was arrested in Macau on Saturday along with 10 other suspects over alleged cross-border gambling offences.
Chau is the highest-profile executive targeted by authorities in Macau since Beijing banned the promotion of gambling inside mainland China in March and the territory proposed tougher regulations on casinos in September.
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