Macau police arrest leading casino boss amid crackdown

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Police in Macau have arrested a casino boss.

On Sunday, authorities said they had arrested two men.

Macau Legend Development, which runs three casinos in the city, confirmed the arrest of its chief executive and controlling shareholder.

The arrest of a high profile Macau gambling executive came after the move.

Macau Legend Development said in a statement to the Hong Kong Stock Exchange that the incident was not related to the group.

The Board does not expect the above incident to have a material adverse impact on the daily operations of the Group.

The company runs three casinos in Macau.

Macau Legend Development's shares plummeted in Hong Kong on Monday.

Mr Chan is the chairman of Tak Chun Group, which organizes junkets or trips to casinos for wealthy gamblers.

Tak Chun did not respond to the request for comment.

The chairman of Macau's biggest junket operator, Suncity, was arrested in November as authorities cracked down on illegal cross-border gambling.

The Macau Gaming Inspection and Coordination Bureau met with the police this month to strengthen their collaboration on gambling-related crimes.

The casino industry is expected to see an increase in visitors during the lunar new year festival.

Gambling is legal in Macau, a special administrative region of China, even though it is illegal in mainland China.