• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Sunday 1 June 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

Suncity Group issues statement vehemently denying alleged links to online gaming, proxy betting

Newsdesk by Newsdesk
Tue 9 Jul 2019 at 18:57
Overseas leakage not to blame for Macau’s VIP revenue slowdown: Morgan Stanley
260
SHARES
4.3k
VIEWS
Print Friendly, PDF & Email

Asian VIP operator Suncity Group has vehemently denied it has any links to online gambling and has reserved the right to take necessary legal action after Chinese media published an article on Monday suggesting it was involved in online and proxy betting in China via offshore online casinos.

Economic Information Daily, an affiliate of state-owned news agency Xinhua, accused Suncity Group of signing up players who gambled in its junket rooms in Macau to online gaming and proxy betting services. Because debts can be settled in Renminbi, the process enables capital to be moved out of China, the article alleged.

In a Statement of Clarification sent to Inside Asian Gaming, Suncity Group said:

“Sun City Gaming Promotion Company Limited hereby declares that, under the authorization of the Macau Special Administrative Region, the Company is the legitimate institution granted with Junket Promoter License, any engagement in the junket promoting business is legalized with rightful permissions. The Company has no possession of any casino and gaming tables, neither does it operate any online gaming business.

“The junket promoting business, operated by the Company and other related companies in Macau and other geographical areas, is rigorously licensed to perform in accordance with legal requirements and the license conditions. All operations data is announced regularly through the formal official channel with no discrepancy and does not contain any false information nor misleading statements.

“Since establishment, Suncity Group has been striving to expand its business scope across the globe. The VIP gaming service, together with hotel and integrated resorts management, entertainment, global tourism, food and beverage and luxury fashion, jointly constitute as the six core businesses of Suncity Group.

“In response to the current misrepresentation and misleading reports regarding the Sun City Gaming Promotion Company Limited, the Company hereby reiterates that the relevant information could contain subjective speculation and therefore has led to reputational damages to the Company and its shareholders. The Company expresses strong condemnation and reserve the right to take necessary legal action.”

In a Tuesday note, brokerage Sanford C Bernstein observed that this was the first time it recalled seeing Chinese state media ever linking a junket operator with online gaming activities.

“It is too early to tell what ramification this article brings (if any),” Bernstein analysts said.

“The article itself could be a warning message for Suncity and maybe other online gaming/proxy betting operators to tone down excessive offshore play. Junkets may face greater scrutiny on their offshore businesses, some game play may gravitate back to Macau as players may retreat from online play and junkets may face greater scrutiny in Macau on how they interact with players (with respect to signing them up for online accounts in Macau).”

The listed arm of Suncity Group holds a 34% stake in Vietnam IR Hoiana, which is set to open in December 2019, and recently acquired 27.95% of Summit Ascent Holdings, which owns Russian integrated resort Tigre de Cristal near Vladivostok. Suncity’s junket operations are not covered by the listed company.

RelatedPosts

Robert Goldstein to step aside as LVS Chairman and CEO from March 2026, replaced by Patrick Dumont

Robert Goldstein: Macau gaming market challenged by increased competition, online gambling and US-Sino trade war

Fri 30 May 2025 at 06:42
Genting Malaysia misses 4Q24 estimates, slashes dividends as rising costs hurt profitability

Genting Malaysia reports US$613 million in Q1 revenue, impacted by lower VIP at Resorts World Genting

Fri 30 May 2025 at 05:23
Macau’s hotel occupancy rate reaches 89% in July

Macau’s hotel occupancy rate climbed to 87.8% in April

Thu 29 May 2025 at 17:27
On the brink

On the brink

Thu 29 May 2025 at 13:27
Load More
Tags: JunketsMacauonline gamingproxySuncity GroupVIPXinhua
Share157Share12
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – Foreigner-only casinos: Seize the day

Editorial – Foreigner-only casinos: Seize the day

by Ben Blaschke
Thu 29 May 2025 at 13:38

I was recently asked by someone working at a foreigner-only casino for my thoughts on the outlook for the Asian...

On the brink

On the brink

by Pierce Chan
Thu 29 May 2025 at 13:27

The transition period for Macau’s 11 satellite casinos is set to expire at the end of this year, after which...

A moral defense of gambling

A moral defense of gambling

by Andrew Russell
Wed 28 May 2025 at 18:19

Economist Andrew Russell explores the differences between community benefit and in-principle arguments for the existence of a legal gambling industry...

Face to face

Face to face

by Ben Blaschke
Wed 28 May 2025 at 18:08

Konami caught the eye at the recent G2E Asia show in Macau with its SYNK Vision Tables, which utilize facial...

Evolution Asia
Aristocrat
GLI
Mindslot
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

10 Years Ago – Reimagining Sri Lanka

Sri Lanka gazettes draft bill to establish Gambling Regulatory Authority

by Newsdesk
Sat 31 May 2025 at 06:03

A draft bill that would establish an official regulator for the Sri Lankan gaming industry, to be known as the Gambling Regulatory Authority, has taken another step forward after being gazetted. According to the Sri Lanka Mirror, the official announcement...

RGB International signs agreement to distribute KL Saberi and Atlas gaming machines

After record-breaking sales in 2024, Malaysia’s RGB sees 1Q25 profit fall to

by Newsdesk
Sat 31 May 2025 at 05:53

Malaysian gaming product distributor RGB International Bhd has reported group-wide revenue of MYR73.6 million (US$17.3 million) for the three months to 31 March 2025, down 65% year-on-year due to a lower number of products sold. The figure was also 79%...

Robert Goldstein to step aside as LVS Chairman and CEO from March 2026, replaced by Patrick Dumont

Robert Goldstein: Macau gaming market challenged by increased competition, online gambling and US-Sino trade war

by Ben Blaschke
Fri 30 May 2025 at 06:42

Las Vegas Sands (LVS) Chairman and CEO Robert Goldstein has bemoaned the lingering impact of the US-China trade war, as well as increased domestic and regional competition and the rise of online gambling across Asia for sustained flatness in the...

Industry hopes Thai Entertainment Complex Roundtable can establish “common ground” with those opposing legal casinos

Industry hopes Thai Entertainment Complex Roundtable can establish “common ground” with those opposing legal casinos

by Ben Blaschke
Fri 30 May 2025 at 05:38

Industry figures taking part in the Thai Entertainment Complex Roundtable (TECR) next Thursday 5 June hope to find common ground with those who oppose Thailand’s Entertainment Complex Bill, citing the opportunity to use an evidence-based approach to achieve outcomes that...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文
  • 日本語

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English
  • 日本語