Wynn Resorts Ltd., Macau's premier casino company, has been rocked by a report stating that as much as $258 million had been stolen from a junket operating within the casino. The report was published on Thursday by a Hong Kong-based investment bank, Daiwa Capital Markets, resulting in a significant dip in Wynn Resorts' stocks.
Operating as third parties, junkets are a vital factor in Macau's casino industry. Dore Holdings, which was targeted in the heist, is among the most prominent junkets in the country, bringing in cash that high-rollers use to leverage their own bets, according to Business Insider.
Dore Holdings operates two exclusive VIP rooms at the Wynn Macau, totaling at least 25 tables. While Wynn Macau provides dealers and chips, Dore Holdings brings in the high-rollers.
Dore Holdings accounts for about five percent of the junket industry in Macau, reports Card Player News.
As of the moment, a number of employees, including a cage manager, of Dore Holdings are suspected of pulling off the high-profile heist.
Despite the fact that the casino itself was not affected by the heist, however, Wynn Resorts' stock has fallen 9% since the news broke. With high-rollers still being weary of Macau's casino since last year's heist from another junket, one can only hope that Macau's gambling industry will stay strong and stable.
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