NEW YORK (TheStreet) -- Wynn Resorts (WYNN) is having a land deal in China examined by Macau's corruption agency relating to Las Vegas mogul Steve Wynn's upcoming $4 billion casino there, Reuters reports.
The anti-graft body is investigating after the U.S.-based International Union of Operating Engineers asked the Macau government to provide more details on how a little-known company secured rights to land before it was granted to Wynn, Reuters said.
The land is now part of Macau's multi-billion-dollar gambling precinct known as the Cotai Strip, where Wynn's Wynn Macau Ltd is set to open its second casino resort in 2016.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts