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.”

Source: https://www.ggrasia.com/wynn-expects-us8mln-litigation-cost-in-dore-deposit-cases/