Wynn Macau has confirmed in its annual report that the group has set aside approximately HK$9.3m for plaintiffs in the lawsuit.<\/p>\n\n\n\n\n\n\n\n
Macau.-\u00a0Wynn Macau Ltd<\/strong>\u00a0has recorded a provision of HK$62m (US$7.9m) for litigation costs related to a case that found Wynn Resorts and junket operator\u00a0Dore Entertainment Co<\/a>\u00a0jointly responsible for HK$6m (US$747,482) owed to a VIP player.<\/p>\n\n\n\n In 2015, Dore Entertainment Co was victim of an internal theft by casino cage manager Mimi Chow Ioc Mei, who\u00a0left after stealing HK$700m<\/strong>. In 2016, the court ordered Mimi Chow Ioc Mei to repay approximately MOP103m.<\/p>\n\n\n\n Last November, the company appealed against the ruling but the Court of Final Appeal dismissed the appeal<\/a>.<\/p>\n\n\n\n The company stated: \u201cWe believe most remaining cases are without merit and unfounded and intend to vigorously defend against the remaining claims pleaded against us in these lawsuits.”<\/p>\n\n\n\n Credit Suisse (Hong Kong) has revealed that Macau casino operators could be jointly liable for up to HKD50m (US$6.37bn) in outstanding liabilities and uncollected debts following the sudden closure of Suncity Group<\/a> and Tak Jun<\/a>\u2018s junket operations.<\/p>\n\n\n\n Its estimate of the operator\u2019s liability is based on a 50 per cent cut of a possible HKD100bn total industry-wide liability. The lower figure is because some agents were unable to travel to Macau to recover funds<\/strong>, possibly due to lack of documentation, and some recovered money over the past two years. Credit Suisse said it believes the Macau government was able to recover a small amount of cash <\/strong>before junket-operator cooperations ended.<\/p>\n\n\n\nMacau casinos may have to cover US$6.37bn in junket debts<\/h2>\n\n\n\n