Suncity CEO denies group supported HK protestors

The group has denied rumours it was being investigated by Chinese authorities.
The group has denied rumours it was being investigated by Chinese authorities.

Alvin Chau has made a video statement to say company did not support Hong Kong protestors and that the group’s financial situation is stable.

Macau.- Alvin Chau, CEO of the Hong Kong-based casino operator Suncity Group has made a video statement denying rumours that the company was supporting Hong Kong independence protests.

Rumours had spread on social media suggesting the group was the target of a Chinese security investigation and VIP customers were redrawing their funds from accounts with the casino as a result.

Other rumours circulating included a claim that the casino’s application had been being hacked with customer information being stolen.

Chau said in the video that the rumors were “extremely absurd and unreasonable.”

He said: “I was born and raised in Macau and my company is also deeply rooted in Macau, with whole-hearted devotion to the Motherland. What would be my reasons for subsidizing Hong Kong rioters and why would I jeopardize my country.”

The CEO said the group had not been asked for any information regarding an investigation from Chinese mainland, and that the firm was committed to complying with the Macau Personal Data Protection act, which forbids the organisation from disclosing customer information.

Chau said that the casino’s app does not store customer information and that the firm’s server was located in Macau.

He said: “Here I can assure all of you, we have never encountered any leakage of information.”

Finally, the CEO addressed rumors about the company’s finances and stated the group had a VIP room cash flow of about HK$18.6 billion (close to US$2.4 billion) plus HK$16.5 billion (US$2.12 billion) in bank deposits and a fiscal reserve of some HK$10.5 billion (US$1.35 billion).

He said: “Our financial situation is stable. We have the capability and enough capital. The group’s total assets can absolutely be used to offset all chip deposits of all clients, foreseeable losses and bad debts.”

The Gaming Inspection and Coordination Bureau (DICJ) has confirmed there were no irregularities in Suncity’s operations.

Suncity has heavily invested in future projects such as its Manila IR and participation in its Philippine subsidiary.

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