Date
12 December 2017
Steve Wynn says his Macau casino flagship is holding up well against China's widening war on money laundering and corruption. Photo: Bloomberg
Steve Wynn says his Macau casino flagship is holding up well against China's widening war on money laundering and corruption. Photo: Bloomberg

Wynn untouched by US$1 bln junket operator caper

Wynn Macau Ltd. (01128.HK) said it has not been affected by the disappearance of a junket operator who left behind HK$10 billion (US$1.3 billion) in unpaid debts, the Hong Kong Economic Journal reported Friday.

Chairman and chief executive Steve Wynn also said the casino operator is holding up well against China’s widening war on money laundering and corruption.

High-flying junket operator Huang Shan owed at least four Macau casinos and more than 100 individuals when he vanished last month, according to reports.

It is not clear whether Wynn Macau is one of them but Steve Wynn said his company has been cooperating with local and United States investigators in providing background checks on intermediaries and filing monthly reports to the Macau government.

Also, Wynn said his hotel has been spared from a recent wave of fraudulent deals involving illegal money transfers on mobile card-swipe machines because it does not use such devices.

Wynn Macau will increase its investment in its casino-resort business in the enclave and is in talks to enter Japan after a long-awaited gaming law is passed.

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