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Wynn, Casino Stocks Decline on Report of $258 Million Theft

  • Wynn says Dore Holdings is still operating; no direct impact
  • Similar incident last year hurt junket industry, Daiwa says
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Wynn Macau Ltd. led declines in Macau gaming stocks after an analyst’s report alleged that a junket group operating out of the company’s casino in the city may have lost as much as HK$2 billion ($258 million) to thievery, adding to concerns over the battered industry.

Wynn Macau, controlled by billionaire Steve Wynn, dropped 3.6 percent to HK$10.86 at the close of trading in Hong Kong, after its parent Las Vegas-based Wynn Resorts Ltd. fell 4.6 percent in New York. The group gets almost 70 percent of its revenue from the Macau unit.