Another Macau casino chief arrested

A leading casino chief in Macau has been arrested during a crackdown by the police, citing suspected money-laundering and illegal gambling.

Two men were arrested in the Chinese gambling enclave at the weekend and Macau Legend Development, operator of three casinos in the city, confirmed that its CEO Chan Weng Lin, who stepped down from his position yesterday, was one of them.

However, in a statement to the Hong Kong Stock Exchange, Macau Legend said that the incident at the root of the arrests was “a personal affair” and therefore not related to the group.

The company runs the Landmark Macau (pictured), Babylon Casino and Legend Palace casinos. Chan is also chairman of Tak Chun Group that organises junkets to casinos.

On news of the arrests, shares in Macau Legend fell sharply on the Hong Kong Stock Exchange by as much as 30 per cent.