Wynn Resorts shares fell 5% after news broke that one of the junket vendors in Macau lost $258 million. The media's coverage of the scale of the loss has been very diverse. According to some estimates, junket vendors suffered millions of employee thefts. According to David Bain, an analyst at Stterne-Age in Win Macau, the junket vendor who controlled the VIP room suffered internal losses. Information received from Bloomberg by a spokesperson for Wynn suggests that Door Entertainment Co. Ltd is the junket targeted for theft.
Wynn's stock was down 4.6% at $69.67 as of Thursday's close. Wynn's spokesman Michael Weaver said the theft won't have a financial impact on the casino. Door Company reportedly has no money owed to the casino and is still operating at the Macau casino.
According to information released by UBS Securities Asia, the suspect in the theft is believed to be a junket cage manager. Took the amount of HKD 2b, but UBS says this number could be inflated. Daiwa Securities Group agreed. That number is still significant as Macau's junket operators are already struggling, suggesting total losses could be as low as HK$200 million.