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NEWS 9 July 2019

Chinese gambling report singles out Suncity’s junkets

By Matthew Enderby

A state-backed report from Macau says the island’s largest junket operator, Suncity, has made billions of dollars in online and proxy betting, damaging the country’s social economic order in the process.

Suncity operates VIP gambling rooms around Asia and enables Chinese players to bet online through casinos in the Philippines and Cambodia, using underground banks.

The report from Economic Information Daily is the first time a Macau Junket has been singled out for online gaming activity.

It comes at a time when the country faces slow growth and is looking to decrease its capital outflow.

A statement from the report said the amount wagered through online gambling in mainland China is more than ¥1tr ($145bn); this is nearly twice the annual income of China’s lottery.

Suncity has said it does not operate any online gaming business and its operations are all legal under government regulations.

RELATED TAGS: Online | Industry | Legal & Regulatory | Financial
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