Will Wynn Resorts (WYNN) Stock Be Affected By Macau Corruption Investigation?

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.

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Wynn Resorts told Reuters it had not been contacted by any government agencies on the issue but "would fully cooperate."

Shares of Wynn are up 0.40% to $204. in pre-market trade.

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