Embattled gambling group Suncity Group Holdings has closed all of its VIP gaming rooms in Macao, the world's largest gambling hub, after the company's CEO was arrested, two sources with direct knowledge of the situation told Reuters.
The shutting of the company's VIP rooms will result in a cut of around a third of its Macao headcount, said one of the sources, a senior casino executive who declined to be identified as the closure has not been publicly announced.
Suncity Group did not respond to a request for comment. Its shares were suspended from trade on Wednesday, the second time in three days, pending what it said was the release of an announcement related to its VIP business.