Apr 01, 2022 05:53 AM

BUSINESS

Macao Gambling Junket Operator Golden Group Shuts Down

By Zhou Wenmin and Denise Jia

Pollyanna Chu, head of Macao Golden Group

Pollyanna Chu, head of Macao Golden Group

Macao Golden Group became the latest junket operator to shut down in Macao as Beijing steps up oversight of cross-border online gambling.

In a memo to staff Sunday, the junket operator said the decision followed “careful consideration” and went into effect March 30. An insider from the Macao casino industry confirmed the memo to Caixin.

Golden Group was founded by Lee Wai Man, a gambling industry veteran who has close ties to local casino tycoon Stanley Ho. He started his fortune by operating high-roller rooms at Ho’s casinos.

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