{"id":8334,"date":"2023-01-19T00:00:00","date_gmt":"2023-01-19T00:00:00","guid":{"rendered":"https:\/\/www.mundovideo.com.co\/en\/asia\/alvin-chaus-ruling-will-hit-macau-highrollers\/"},"modified":"2023-01-19T00:00:00","modified_gmt":"2023-01-19T00:00:00","slug":"alvin-chaus-ruling-will-hit-macau-highrollers","status":"publish","type":"asia","link":"https:\/\/www.mundovideo.com.co\/en\/asia\/alvin-chaus-ruling-will-hit-macau-highrollers\/","title":{"rendered":"Alvin Chau’s ruling will hit Macau highrollers"},"content":{"rendered":"

Wednesday’s sentencing in Macau of Alvin Chau Cheok Wa (pictured in a file photo), former boss of now-defunct <\/span><\/span>casino junket Suncity Group<\/span><\/span><\/a><\/u><\/span> Ltd, represents the “definitive end” of the city’s junket-driven system, suggest industry observers.<\/span><\/span><\/span><\/p>\n

Macau’s Court of First Instance sentenced Mr Chau to 18 years in prison in aggregate. Judge Lou Ieng Ha said that a criminal association charge had been proven against Mr Chau and <\/span><\/span>several other defendants<\/span><\/span><\/a><\/u><\/span>, as well as Mr Chau’s leadership role in the criminal group.<\/span><\/span><\/span><\/p>\n

Mr Vickers is chief executive of Vickers and Associates, a specialist political and corporate risk consultancy based in Hong Kong suggested the imprisonment of Mr Chau marked the “definitive end” of Macau’s junket-driven system, which “enabled significant capital outflows from mainland China”.<\/span><\/span><\/span><\/p>\n

More overseas business<\/span><\/span><\/strong><\/span><\/p>\n

The total number of licensed junkets in Macau – also known gaming promoters – shrank by 21.7 percent over the past 12 months, to 36 this year. It marked the tenth consecutive year of decline in the number of licensed junkets in the Macau market, showed the official data.<\/span><\/span><\/span><\/p>\n

Separately, Macau’s Legislative Assembly approved in December a consolidating bill that regulates the licensing and activities of casino junket operators, introducing tighter requirements on the sector.<\/span><\/span><\/span><\/p>\n

The Macau government has stated its wish to see less reliance on mainland China customers in the city’s casinos, and more overseas players.<\/span><\/span><\/span><\/p>\n

The city’s six gaming concessionaires have pledged to the city’s government they will invest MOP118.8 billion (US$14.74 billion) between them over the course of the next 10-year concession term. About 91.5 percent of that amount, i.e., MOP108.7 billion, will be allocated to “exploring overseas customer markets and developing non-gaming projects”.<\/span><\/span><\/span><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

The Macau government has stated its wish to see less reliance on mainland China customers in the city\u2019s casinos, and more overseas players.<\/p>\n","protected":false},"author":1,"featured_media":5744,"menu_order":294,"comment_status":"open","ping_status":"open","template":"","format":"standard","meta":{"inline_featured_image":false,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[],"tags":[4222],"class_list":{"0":"post-8334","1":"asia","2":"type-asia","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"tag-alvin-chau-macau-convicted-junket-suncity","8":"entry"},"yoast_head":"\nAlvin Chau's ruling will hit Macau highrollers - Mundo Video Entertainment | Casino News in Latin America and the World<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.mundovideo.com.co\/en\/asia\/alvin-chaus-ruling-will-hit-macau-highrollers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Alvin Chau's ruling will hit Macau highrollers - 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