Macau Legend Development's share price plunged by as much as 30% in Hong Kong on Monday.
Police in Macau have arrested a leading casino boss amid a crackdown in the world's biggest gambling hub.
On Sunday, authorities said they had arrested two men over alleged money laundering and illegal gambling. Macau Legend Development, which runs three casinos in the city, confirmed the arrest of its chief executive and controlling shareholder Chan Weng Lin.Gambling is illegal in mainland China but is allowed in Macau, which like Hong Kong is a special administrative region of China.
"The Board is of the view that as the Group is operated by a team of management personnel and the above incident relates to the personal affairs of Mr Chan and not related to the Group," Macau Legend Development said in"The Board does not expect the above incident to have a material adverse impact on the daily operations of the Group," it added.
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