CCAC investigates Wynn Palace land deal

Macau’s anti-corruption agency is investigating a land deal in connection to Wynn Resorts Ltd.’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 said in an e-mailed response to Bloomberg.
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 agency is investigating why Wynn Resorts was made to pay 400 million patacas (USD50 million) for the land rights.The investigation follows a public records request submitted recently by the International Union of Operating Engineers (IUOE) to two government bodies in Macau asking for information regarding the commitment of land rights in Cotai to individuals from Beijing.
In the letters addressed to the Chief Executive Chui Sai On and the Secretary for Transport and Public Works Lau Si Io, IUOE representative Jeffrey Fiedler requested from the respective bodies all documentation covering communications with and references to the Macau firms Tien Chiao Entertainment and Investment Company (“Tien Chiao”) and Companhia de Entretenimento e Investimento Chinese Limitada, as well as several individuals, including Jose Cheong Vai Chi (also known as “Cliff Cheong”), Ho Ho and Zhang Luchuan.
As previously reported by the Times, IUOE alleges that Wynn Resorts agreed to pay Tien Chiao USD50 million for Ho Ho’s group to relinquish their Cotai land rights in order for Wynn to develop its own resort casino on the property. MDT/Agencies