Tax accusations refuted by Macau official Francis Tam

Aug 12, 2013 6:01 PM

Accusations that casino operators who received sub-concessions from the original three license winners did not pay taxes were refuted by a Macau official last week. Finance Secretary Francis Tam said the three original license recipients had declared the cash received for the sub-concessions and had paid taxes on the money.

The original recipients were Wynn Resorts Ltd., Casino Galaxy and Stanley Ho’s SJM. The sub-concessionaires were: Melco Crown Entertainment Ltd.; Las Vegas Sands Corp., and Pansy Ho and partner MGM Resorts International.

A news article published in the Macau Daily Times last spring prompted some legislators to accuse the regulators of not receiving tax payments for the sub-concessions.

In attacking the charges, Tam said the government “had no intentions of deceiving anyone.”

Ray Poirier is the longtime executive editor at GamingToday.

Contact Ray at [email protected].

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