The mighty Asian developer and operator Suncity Group have refuted all claims which insinuate that they may be offering ‘proxy’ online gaming services.
The claims are coming from Macau’s Gaming Inspection and Coordination Bureau. In fact, the Asian junket operator is seriously considering taking necessary legal action. The claims pointed out that online and proxy betting in China is been done through offshore online casinos.
According to Economic Information Daily, which is a subsidiary of the state-owned news agency Xinhua, the news agency went as further as accusing Asian VIP operator of engaging and signing up players who gambled in its private rooms in Macau to online gaming and proxy betting services. Debts were claimed to been repaid in Renminbi, allowing huge capitals to be channeled out of the People’s democratic republic of China, All these were revealed in the article.
The practice which is known to be illegal in Macau is totally allowed and popular in territories such as Philippines and Cambodia where the Asian operator even offers more typical and traditional junket services to a host of prestigious Chinese Chiefs.
SUNCITY’S LENGTHY STATEMENT
Anyways, Suncity groups tried clearing the air by releasing a lengthy statement of clarification.
The 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 or 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.”
After the news broke out, brokerage Sanford C Bernstein realized that this is the first incidence where a Chinese state media would link a prestigious junket operator with involvement in online gaming activities.
“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 gameplay 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).”
Recently, It was announced that Suncity Group owns a 34% share in Vietnam IR Hoiana, which is expected to be commissioned by December 2019. The Group also bought a 27.95% stake in Summit Ascent Holdings, which are parents of Russian integrated resort Tigre de Cristal near Vladivostok.