HONG KONG (Reuters) – Shares of Macau gambling group Suncity Group Holdings were set to fall 5.8% on Monday after it said late on Friday that lenders had demanded full repayment of loans of HK$313.6 million ($40.2 million) within five business days from Dec. 8.
The loan taken on by Star Soul Investments was guaranteed by Alvin Chau, the now-detained owner of the company, and also a former chairman and director of Suncity Group.
Chau resigned after being arrested last month over alleged links to cross-border gambling, with his junket operation closing all of its VIP gambling rooms in Macau in the wake of his arrest.
($1 = 7.7989 Hong Kong dollars)
(Reporting By Anne Marie Roantree; Editing by Tom Hogue)
