China’s latest CEO arrest is part of a grand plan to transform Asia’s casino capital

February 2, 2022 ChinaMacau Crime & Legal

China has deepened its crackdown on junket operators catering to its wealthiest gamblers.

Macau police on Sunday (Jan. 30) arrested Chan Weng Lin, CEO of both Macau Legend, a casino resort, and of the Tak Chun Group, Macau’s second-largest junket operator. Chan, who was charged on suspicion of illegal gambling and money laundering, is one of 15 people connected with the industry who have been arrested in a sweeping crackdown that began in November 2021 with the arrest of Alvin Chau, a glitzy, high-powered industry player, dubbed Macau’s “Junket King.” Of those arrested, six have been detained by police, including Chan and Chau, according to Reuters.

By Monday, Jan. 31, Chan had stepped down as CEO of Macau Legend. Its board distanced themselves, calling his arrest a matter of his “personal affairs” (pdf), that nevertheless led to a 19% drop in the company’s shares. The fallout for Alvin Chau had likewise been swift and even harsher. Within two weeks, Chau’s junket company of 12,000 agents, Suncity Group, announced that it had ceased all business operations, as “judicial proceedings have rendered the company unable to operate.”