The decision comes after the Court of Second Appeal acquitted former Suncity boss Alvin Chau and others.
Macau.- Five Macau casino operators have decided to drop their pursuit of compensation related to the former Suncity. They had been seeking a collective MOP2.14bn.
According to TDM, various sources have confirmed the concessionaires’ joint decision to drop the case after the Court of Second Appeal acquitted Alvin Chau, the former CEO of Suncity (now LET Group Holdings), and other defendants of fraud in October.
Wynn Resorts had sought MOP770m (US$96m), Galaxy MOP559m (US$70m), MGM China MOP340m (US$42.5m), Venetian Macau MOP295m (US$36.8m) and SJM Resorts MOP178m (US$22.2m) due to lost earnings as a result of Chau’s alleged operations
The Court of Second Instance upheld the prison sentences previously imposed on Chau and his associates for their involvement in illicit gambling activities and other crimes. It cleared the group of defrauding Macao’s gaming operators but increased the amount of compensation they must pay to the SAR’s government to almost HK$25bn (US$3.1bn).