Local Macau media is reporting that Levo Chan, Chairman and Executive Director of leading VIP gaming promoter Tak Chun Group and Co-Chairman, Executive Director and CEO of Macau Legend Development, is one of two men arrested by the Judiciary Police (JP) on Friday.
According to information provided by the JP, two local men were arrested as part of a follow-up investigation into a case of illegal gambling, running a criminal syndicate and money laundering detected in November last year. That case saw Suncity Group CEO Alvin Chau arrested and detailed without bail, resulting in the cessation of Suncity’s junket business in mid-December.
A press conference is scheduled for 10am on Sunday (Macau time) where more information will be provided.
Chan, named number 21 in the 2021 Asian Gaming Power 50, opened Tak Chun’s first Macau VIP Club in Galaxy Entertainment Group’s StarWorld in 2007 and until the events of recent months had grown the company to become Macau’s clear number two junket by market share, behind only Suncity.
Tak Chun was only last week named as one of 46 VIP gaming promoters approved by the Gaming Inspection and Coordination Bureau (DICJ) to operate in 2022.
Chan also acquired a personal 33.2% stake in Macau Legend – owner of the Macau Fisherman’s Wharf Precinct – in 2020 and was appointed Chairman and CEO shortly afterwards. Macau Legend, which operates Legend Palace and Babylon casinos under the license of SJM Resorts – recently said it plans to submit a bid for one of six casino concessions to be issued under the upcoming re-tendering for Macau gaming licenses.
Please click here for our follow up story after the Sunday morning press conference.