On
Thursday, the Hong Kong-based investment bank Daiwa Capital Markets
published a report saying that as much as $258 million had been stolen
from a junket operating inside Wynn Macau.
In
Macau, junkets operate as third parties within casinos, bringing in
cash that high rollers — the VIPs who bet big at the casino — use to
leverage their bets.
It is suspected that employees of Dore Holdings, the junket working inside the casino, made off with the cash.
For its part, Wynn told Bloomberg its casino didn't lose any money, but the company's stock has still fallen 9% on the news.
The
reason for the drop is that the heist has the potential to do serious
damage to the high-roller market in Macau, which makes up a chunky 50%
of gambling revenue on the island.
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