Alvin Chau, founder of local casino junket giant Suncity Group, is going to invest in the field of e-commerce by building a multi-million dollar online shopping platform that is based in Macau, according to Hong Kong media reports.
UO Group, which is partly owned by Alvin Chau, will be launching an online shopping platform that is similar to the popular HKTVmall in neighbouring Hong Kong. The company, which mainly engages in publishing and social media, will make use of its current publications and social networking channels to attract customers to the new shopping platform.
The investment is Chua’s latest move to diversify his line of businesses as Macau’s casino junket sector is facing an uphill struggle in the wake of the Covid-19 pandemic and the mainland Chinese’s government’s crackdown on overseas gambling.
Earlier this year the junket boss also invested in the booming crypto mining industry in mainland China, buying up hundreds of mining rigs. However, the operation of all mining rigs was forced to be suspended after Beijing banned crypto mining in the nation last month.