Monday, August 15, 2022

Police report HKD330 million lost in wake of Dore scandal


Macau’s Judiciary Police has received complaints that a junket operator and other parties have lost a total of HKD330 million ($43 million) as a result of the Dore junket employee theft, higher than what some analysts put the sum at.

According to the Macau Daily Times, 30 other complaints including from Macau and mainland China have been filed.

Though the sum quoted by the police is less than the wild figures initially reported in the media of HKD$2 billion it is more than what analysts have tipped the amount to be.  

Analyst David Bain said checks cite HKD270 million ($35 million) as being missing from the Dore Group.

The scandal should not trigger the same chain events that unfolded in the wake of the Huang Shan incident, after Dore promised to honor the deposit by its investors and agents, HSBC Global Research said in a note earlier this week.

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