New junket fraud case involving L’Arc junket operator

L’Arc Macau

The Judiciary Police (PJ) confirmed yesterday that a senior executive at a junket operator is suspected of having stolen at least HKD99.7 million before disappearing.
PJ received a report on January 3 indicating the suspect is a man surnamed Chan who holds a top post at a junket company operating inside SJM Holdings Ltd’s L’Arc Macau property. The police are investigating the matter and no arrests have so far been made.
A February 2015 Bloomberg report published by the Times described the operations which took place inside the 56-story tower, adorned with soaring gold-trimmed arches and located in the heart of Macau. The report stated that “L’Arc, owned by Asia’s largest casino company, has its own VIP room on the 21st floor with nine tables, and only one was occupied when a Bloomberg reporter visited in mid-January. ‘It’s quiet everywhere; we mainly serve regulars now,’ a duty manager said, while trying to convince the reporter to set up a gambling account.”
The report also depicted the scene on the second floor of the casino: “It’s a sight that would have been unimaginable a year ago: an abandoned room for high-end gamblers. There are no tables, no dealers and no players. Carpets have been rolled up, leaving a trash-covered concrete floor. A sign on the VIP room reads “Heng Sheng Group,” one of Macau’s top junket operators, which shuttles Chinese high-rollers to exclusive gaming venues and finances their bets.”
When contacted by TDM, the Gaming Inspection and Coordination Bureau (DICJ) denied knowledge of the case which resembles the Dore Entertainment theft.
Dore operates high-end gambling rooms at the Wynn Macau and other casinos. It reported an alleged internal theft of at least HKD300 million in September. PB