Shares in Wynn Macau have dropped after an analyst report that one of its junket operators has lost HK$2bn through theft.
The money, stolen from junket operator Dore Holdings, resulted in Wynn’s shares dropping by 3.6 per cent. The Wynn group gets almost 70 per cent of its revenue from the Macau unit.
Jamie Soo, leader of analyst Daiwa Capital Markets, said: “The balance in this instance, even at the low end, is material and quite significant. Our on-the-ground checks point to the possibility that other junket operators may share some of Dore’s existing stakeholders, which may exacerbate this contagion impact.”
