{"id":10312,"date":"2020-09-24T21:46:19","date_gmt":"2020-09-24T21:46:19","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=10312"},"modified":"2026-04-24T01:32:06","modified_gmt":"2026-04-24T04:32:06","slug":"suncity-denies-freezing-client-withdrawals","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/suncity-denies-freezing-client-withdrawals","title":{"rendered":"Suncity denies freezing client withdrawals"},"content":{"rendered":"\n

The Hong-Kong based group has denied rumours that it has frozen clients\u2019 accounts. <\/p>\n\n\n\n\n\n\n\n

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

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.\u201d<\/p>\n\n\n\n

It added that rumours in social network groups speaking of the supposed freezing of the clients’ funds \u201cseriously prejudiced the interests and reputation\u201d of Suncity, and that it was not ruling out taking legal action on the matter.<\/p>\n\n\n\n

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

Lusa requested information from the Macau Gaming Inspection and Coordination Bureau (DICJ) regarding any complaints against Suncity or potential financial risk. The DICJ<\/em><\/strong> 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.<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

The company this week scooped three prizes at the 6th Investor Relations Awards organised by the Hong Kong Investor Relations Association (HKIRA). <\/p>\n\n\n\n

It won the award for best IR Company \u2013 Mid Cap, Best Investor Meeting \u2013 Mid Cap, and executive director, Andrew Lo Kai Bong (pictured), received the Best IR Chairman\/CEO award.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Hong-Kong based group has denied rumours that it has frozen clients\u2019 accounts. <\/p>\n","protected":false},"author":2,"featured_media":10314,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Hong Kong-based Suncity has vehemently denied allegations of freezing client accounts in Macau, following reports of fund withdrawal refusals amidst heightened scrutiny from Beijing on cross-border gambling capital flows. The Macau Gaming Inspection and Coordination Bureau (DICJ) affirmed its ongoing monitoring of the sector, while Suncity, a prominent junket operator, indicated potential legal action to counter reputational damage. This development underscores the increasing regulatory and capital market pressures on Macau's VIP gaming segment.","focusai_entities":"Suncity, Lusa news agency, Reuters, Macau Gaming Inspection and Coordination Bureau (DICJ), Melco, MGM, Sociedade de Jogos de Macau (SJM), Galaxy, Wynn, Hong Kong Investor Relations Association (HKIRA), Andrew Lo Kai Bong","focusai_location":"Hong Kong, Macau, Beijing","focusai_target_profile":"ceo_executive (0.9), regulator (0.95), compliance_legal (0.85), operator_casino (0.9), payments_fraud_aml (0.8), investor_analyst (0.9), journalist_researcher (0.9)","focusai_suggestions":[{"label":"DICJ Investigation Scope?","query":"What specific actions is the Macau Gaming Inspection and Coordination Bureau (DICJ) undertaking to verify Suncity's denial of account freezing and to assess the broader financial stability of the junket sector amidst heightened capital outflow concerns?"},{"label":"Impact on VIP GGR?","query":"How might the ongoing scrutiny of cross-border capital flows and the reputational challenges faced by major junket operators like Suncity impact the VIP Gross Gaming Revenue (GGR) and Net Gaming Revenue (NGR) for Macau's concessionaires in the upcoming fiscal quarters?"}],"footnotes":""},"categories":[157,161,16338],"tags":[257,1427],"class_list":["post-10312","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-daily-news","category-east-asia-news","tag-macau","tag-suncity"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10312","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=10312"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10312\/revisions"}],"predecessor-version":[{"id":777039822,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10312\/revisions\/777039822"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/10314"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=10312"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=10312"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=10312"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}