Macau’s anti-corruption agency is investigating a land deal in connection to Wynn Resorts Ltd. (WYNN:US)’s construction of a new resort-casino on the Cotai Strip.
“Since the case is now under investigation, the CCAC has no further comments,” the Commission Against Corruption of Macao SAR said in an e-mailed response.
Michael Weaver, a spokesman for Wynn Resorts, said in an e-mail that the company has not been contacted by any authorities regarding an investigation.
The Macau Business newspaper reported today that the agency is investigating why Wynn Resorts was made to pay 400 million patacas ($50 million) for the land rights, citing Commission Chief Fong Man Chon.
Wynn Resorts had to buy the rights from certain mainlanders, though the Land Public Works and Transport Bureau said it wasn’t aware about their involvement, according to the Macau Business report.
Macau, the world’s largest gambling hub, is the only place in China where casinos are legal. Mainland Chinese tourists accounted for two-thirds of the total visitors to the former Portuguese enclave in the first quarter.
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