Alvin Chau properties to be auctioned for nearly US$74.3m
A Macau court will auction 36 properties belonging to former Suncity CEO Alvin Chau Cheok Wa.
Macau.- A court has decided to auction 36 properties belonging to Alvin Chau Cheok Wa. The former CEO of Suncity (now LET Group Holdings) was sentenced to 18 years in prison on January 18.
According to the Court of First Instance, the properties will be put up for auction on September 12, with a reserve price nearing MOP600m (US$74.3m). The majority of the properties consist of parking spaces, while the remaining are commercial units. The auction will not be conducted in a public format, according to information presented by the court.
Chau was tried for leading a criminal syndicate, engaging in illicit gambling activities, and committing fraud. This verdict was delivered two years after his high-profile arrest, which led to the closure of all VIP rooms operated by Sun City Gaming Promotion Company. Once the largest junket operator in Macau, the company was wound up in December 2021.
The court’s ruling determined that Alvin Chau, along with 20 other defendants, must provide compensation of HK$6.52bn (US$833m) to the Macau government. These funds are intended to offset the losses in tax revenue incurred between 2014 and 2021 due to illicit activities.
Chan and four other defendants have to pay Galaxy Entertainment Group nearly HKD81.2m (US$10.4m), Sands China just under HKD47.0m (US$6m), Wynn Macau HKD36.8m (US$4.7m), SJM Holdings HKD35.6m (US$4.5m), and MGM China Holdings HKD3.8m (US$485,000).
