• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Wynn expects US$8mln litigation cost in Dore cases

Apr 25, 2022 Newsdesk Latest News, Macau, Top of the deck  


Wynn expects US$8mln litigation cost in Dore cases

Macau casino operator Wynn Macau Ltd has recorded HKD62.0 million (US$7.9 million) as provision for litigation costs regarding cash deposits individuals claim were placed with Dore Entertainment Co Ltd, a gambling junket that had been working with the casino company. The information was included in the Wynn Macau Ltd’s annual report filed with the Hong Kong Stock Exchange on Friday.

A November ruling by Macau’s Court of Final Appeal held Wynn Macau Ltd to be a party liable to refund a HKD6-million deposit lodged with Dore Entertainment, which had operations at the Wynn Macau property in the city’s downtown district.

In a decision dated November 19, seen by GGRAsia, the city’s highest court said the “best interpretation” of existing legislation implied that article 29 of administrative regulation 6/2002 “imposed joint liability of the concessionaire towards ‘third parties’ for the activity conducted by (its) gaming promoters.”

In its annual report, Wynn Macau Ltd confirmed that the group – via the unit that holds the Macau gaming rights – “was required to pay approximately HKD9.3 million, inclusive of accumulated interest” to the plaintiff involved in that lawsuit.

The company added: “We believe most remaining cases are without merit and unfounded and intend to vigorously defend against the remaining claims pleaded against us in these lawsuits.”

Nonetheless, the casino firm said it has “made estimates for potential litigation costs based upon its assessment of the likely outcome” of these lawsuits. It said it has recorded provisions of HKD62.0 million for such amounts in its financial statements for the year to December 31,2021.

“No assurances can be provided as to the outcome of the pending Dore cases and actual results may differ from these estimates,” stated Wynn Macau Ltd.

A gaming law amendment bill – currently being scrutinised in the city’s Legislative Assembly – states the joint liability that gaming concessionaires and gaming promoters must bear, regarding junket-generated VIP business. The city’s legislators also gave a first-reading nod last week to a consolidating bill that covers licensing and regulatory matters for the city’s junket operators and for so-called satellite casinos.

Another Macau casino operator, MGM China Holdings Ltd, said in its latest annual report that it might be liable for as much as HKD202.7 million regarding junket-related deposit lawsuits.

The group said it had been named as a defendant in three civil cases relating to cash allegedly placed with an aggregate of two junkets that had been active at its MGM Macau resort. MGM China has already lost one of the cases at Macau’s Court of Final Appeal, with its final submission dismissed “in February” this year.

Macau’s VIP gambling trade has seen a decline in business in recent years, coupled with tightened supervision from authorities in Macau and mainland China. The trend accelerated with the November detention of Alvin Chau Cheok Wa, on suspicion of promoting cross-border gambling overseas to mainland China customers, and the cessation of business at his junket brand Suncity Group.

In January this year, the VIP trade saw the arrest of Levo Chan Weng Lin, boss of junket brand Tak Chun, on suspicion of being a triad leader.

A recent note from Credit Suisse (Hong Kong) Ltd suggested that Macau casino operators could collectively be responsible for as much as HKD50 billion of an estimated HKD100-billion of “unfulfilled liability” and “uncollected debt” left behind after the Suncity Group and Tak Chun junket brands were “abruptly shut down”.


  • tweet
Related articles
  • U.S. says Steve Wynn ‘foreign agent’, lobbied for China
    U.S. says Steve Wynn ‘foreign...

    May 18, 2022  

  • Macau ops share junket deposit liability: Macau top court
    Macau ops share junket deposit...

    May 16, 2022  

More news
  • Review saw no irregularity in Levo Chan link: Macau Legend
    Review saw no irregularity in Levo Chan...

    May 23, 2022  

  • Foreign tourists can get S.Korean peninsula visa from June 1
    Foreign tourists can get S.Korean...

    May 20, 2022  


Latest News

Review saw no irregularity in Levo Chan link: Macau Legend

Review saw no irregularity in Levo Chan link: Macau Legend

May 23, 2022  

Macau casino services firm Macau Legend Development Ltd says that a review conducted by an independent consultant “did not note any irregularity” in the dealings between the company and...
Read More
Foreign tourists can get S.Korean peninsula visa from June 1

Foreign tourists can get S.Korean peninsula visa from June

May 20, 2022  

Crown Resorts’ shareholders nod Blackstone bid

Crown Resorts’ shareholders nod Blackstone bid

May 20, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”We anticipate being live with iGaming products in two jurisdictions in the U.S. by the end of calendar year 2022"

Trevor Croker

Chief executive and managing director of Aristocrat Leisure



Most Popular

  • Foreign tourists can get S.Korean peninsula visa from June 1Foreign tourists can get S.Korean peninsula visa from June 1 May 20, 2022
  • Crown Resorts’ shareholders nod Blackstone bidCrown Resorts’ shareholders nod Blackstone bid May 20, 2022
  • Wynn CEO, Macau execs in base pay cut in return for sharesWynn CEO, Macau execs in base pay cut in return for shares May 17, 2022
  • Andrew Lo takes controlling stake in Suncity, Summit AscentAndrew Lo takes controlling stake in Suncity, Summit Ascent May 19, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us