Macau operators no longer pursuing compensation from Suncity

Five Macau gaming operators have chosen not to pursue payment from Suncity Junket for alleged payments owed as a result of illicit gaming operations, according to TDM Canal Macau.

Wynn Macau, Galaxy Entertainment Group, MGM China, Venetian Macau, and SJM Resorts were among the operators requesting a total compensation of more than MOP2 billion ($250 million).

The amounts included in this total were MOP770 million ($96 million) for Wynn Macau, MOP559 million ($70 million) for Galaxy Entertainment Group, MOP340 million ($42.5 million) for MGM China, MOP295 million ($36.8 million) for Venetian Macau, and MOP178 million ($22.2 million) for SJM Resorts.

During the legal battle, accusations surfaced of defrauding the government and operators of percentages of money illegally wagered on their assets. The court decision that cleared former Suncity CEO Alvin Chau and other process participants has not been contested by the five operators.

The Court of Final Appeal’s decision puts an end to their lawsuit for compensation. Remarkably, Melco chose not to pursue compensation for the alleged illicit gains made by Suncity.

Earlier this year, Alvin Chau, the former CEO of Suncity Group, the largest junket in Macau, was sentenced to eighteen years in prison for his involvement in the group’s illegal activities.

Original story by: Asia Gaming Brief