Suncity CEO Admits to Illicit Betting Activity, Macau Police Say

(Bloomberg) — Macau's judiciary police said the head of junket operator Suncity Group confessed to establishing overseas gambling platforms and carrying out illegal virtual betting activities, as authorities presented evidence of wrongdoing after a two-year investigation. Suncity Chief Executive Officer Alvin Chau has been detained as part of the probe, along with other suspects, police said in a live-streamed press conference on Sunday. The group of 11 people admitted some allegations but refused to cooperate in some other investigations, authorities said. Macau authorities in September proposed an increase in government supervision of casino operators, signaling tighter control over the world's…