Suncity denies freezing client withdrawals

The operator just won three awards for its investor relations practices.
The operator just won three awards for its investor relations practices.

The Hong-Kong based group has denied rumours that it has frozen clients’ accounts. 

Macau.- Suncity has denied it has frozen customer accounts following several anonymous reports from people saying they had requests to withdraw funds refused.

Suncity told Lusa news agency that: “There were no cases in which clients have been impeded from withdrawing due to a freezing of the funds.”

It added that rumours in social network groups speaking of the supposed freezing of the clients’ funds “seriously prejudiced the interests and reputation” of Suncity, and that it was not ruling out taking legal action on the matter.

The statement came after Reuters reported that money has been pouring out of VIP accounts in Macau since July, after Beijing identified the cross-border flow of funds for gambling as a national security risk.

Lusa requested information from the Macau Gaming Inspection and Coordination Bureau (DICJ) regarding any complaints against Suncity or potential financial risk. The DICJ only responded that it will continue monitoring casinos and gaming services providers while closely accompanying the situation to ensure the healthy development of the industry.

Suncity has 17 junket rooms in Macau, including at the major casinos run by Melco, MGM, Sociedade de Jogos de Macau (SJM), Galaxy and Wynn.

The company this week scooped three prizes at the 6th Investor Relations Awards organised by the Hong Kong Investor Relations Association (HKIRA).

It won the award for best IR Company – Mid Cap, Best Investor Meeting – Mid Cap, and executive director, Andrew Lo Kai Bong (pictured), received the Best IR Chairman/CEO award.

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