Suncity to cover shareholder losses

Casino operator Suncity Group will also pay employee salaries through to the end of the year following the Covid-19 pandemic.

Macau.- Casino operator Suncity Group will cover shareholder losses using its fiscal reserves.

Due to the Covid-19 pandemic and the impact it has had on tourism and gaming in Macau, the company said it has taken the decision to “enhance shareholders’ confidence”. 

The company also plans to fully pay employees salaries using its fiscal reserves starting from June through to the 4Q 2020 or January 2021. 

“It is not an easy decision for both myself and Suncity Group, and I urge you, my fellow shareholders, to continue to stand together with the group as we march towards the long-term objective of prosperity,” Suncity CEO and Director, Alvin Chau, said.

“The group will continue its effort to minimise the loss sustained by shareholders during the pandemic as we deeply appreciate all your support, especially during these hard times.

“Both the Central Government and the Macao SAR Government spared no effort in the fight against the pandemic, and the results are evident to all. I truly believe, after the pandemic, Suncity Group’s businesses in Macau, as well as overseas, will continue to shine and prosper.”