Macau is getting rocked by reports of a $258 million casino heist
Quote:
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.
http://finance.yahoo.com/news/macau-...154338929.html
