Is the Macau dream becoming a nightmare? Angry junket investors demand return of millions of dollars after HK$2 billion theft

Theft of up to HK$2 billion from operator is symptom of wider malaise

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Published: 3:15am, 20 Sep 2015Updated: 2:07am, 23 Sep 2015

Angry investors demanding the return of hundreds of millions of dollars they pumped into one of Macau's biggest casino junket operators staged fresh protests yesterday amid growing fears that the city's spectacular rise to global gaming dominance could be in danger of unravelling.

Already reeling from the combined effects of Beijing's anti-corruption drive and the mainland's economic slowdown, junket operators who bring in the big-spenders that account for the vast bulk of casino revenues face a backlash from disgruntled investors - some from Hong Kong - who fear the former Portuguese enclave's gaming dream is turning into a nightmare.

Over the past week investors in Dore Holdings - which operates VIP rooms in Wynn Macau - have staged a series of public protests calling for the return of millions of dollars they invested in the company after it emerged that between HK$200 million and HK$2 billion had been "stolen" by a rogue former employee.

Macau police have confirmed they are investigating 38 Dore investor complaints - five from Hong Kong people - involving HK$390 million. But documents seen by the Sunday Morning Post suggest disgruntled investors are seeking almost double that amount, HK$670 million.

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Is the Macau dream becoming a nightmare? Angry junket investors demand return of millions of dollars after HK$2 billion theft

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Theft of up to HK$2 billion from operator is symptom of wider malaise

Theft of up to HK$2 billion from operator is symptom of wider malaise