A web casino scam aimed at Asian investors has been exposed after using the Wynn Macau brand to lure in investments. Allegedly, the Wynn Resorts arm in the Chinese Special Administrative Region has been used as a trap for stakeholders into an illegal web casino venture. China is firmly against online wagering, including casinos.
In a report by the China News Service, authorities revealed a scam marketing a web casino to potential investors from the Wynn Resorts subsidiary. More than 200 victims were tricked into buying in, only to find out that they weren’t investing in an actual business. However, the names of investors have not been revealed, nor were the criminals’ location. Supposedly, the scheme gathered $8 million in the web casino scam.
Illegal Gambling Ventures in China
According to Chinese laws, the only legal forms of gambling are casinos based in Macau and a state-run lottery. Gambling on the Internet is strictly illegal, but the web casino scam conveniently ignored this. In recent months, recruitment schemes have been targeting Chinese nationals to get Mandarin-speaking staff to work for their online casinos.
Reportedly, offshore operators in the Philippines are especially determined. This has caused a lot of controversy in China. However, President Xi Jinping and his Philippine counterpart reached an agreement last October. The Chinese president allowed the recruitment to continue after deciding that it benefited his country.
Web Casino Scam Not the First
After the news broke, GGRAsia contacted Wynn Macau and received an announcement from the operator. In the statement, they claimed to be “highly concerned” by the web casino scam. Further, they claimed to be communicating with the Macau Gaming Inspection and Coordination Bureau. Cooperating with authorities after the possible jeopardization of their brand is the best course of action.
Branding can create trust in the investment market, but it can also be used to scam investors. However, readily available resources on the Internet can be stolen by determined syndicates.
So, for more casino news, keep visiting CasinoUS.
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