James Packer, the co-CEO of Melco Crown Entertainment Ltd. (MPEL) with Lawrence Ho, is in a battle royal with Australia’s Department of Treasury and Finance, which soon will be imposing a tax on Crown Casino’s slot machines that will cost the company an estimated $57 million.
Packer charges the tax violates an agreement reached by a former government that there would be “no further amendments in casino taxes or levies until the end of 2022.”
In the dispute, Packer reportedly would agree to the imposition of a new tax provided the government extends the casino’s operating license from the current 2033 to 2092.
Ray Poirier is the longtime executive editor at GamingToday.
Contact Ray at [email protected].