International edition
June 23, 2021

They recognize that the same policies will continue

Adelson and Wynn are confident in new Macau CEO

(Macau).- Sheldon Adelson and Steve Wynn, chairmen of the Venetian and Wynn respectively, are optimistic about the future political leadership of Macau, but Adelson still hopes for a reduction in gaming tax.

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teve Wynn, who spoke Thursday by telephone conference with analysts about his company’s' quarterly results concluded that the newly elected Chief Executive, Fernando Chui Sai On, “will develop a work that will take into account the protection of residents and businesses.”

“In America, the creators of employment have a target on their back, that's not the case of Macau and the Peoples Republic of China. Maybe we could learn a lesson from what is going on there,” the chairman of Wynn Resorts added.

In addition, while recognising that Chui Sai On “will continue with the same policies”, Sheldon Adelson argues that the tax on casinos' gross revenue should be subject to “innovation”, which incorporates the concept of Chui Sai On's political slogan. “For them [the government] there is a tax of 35 %, but for us the tax is 40 %, because there is an additional fee of four percent going to the Macau Foundation,” said Adelson. “It can be easily removed by order of the CEO, without having to resort to the Legislative Assembly,” he added.

Furthermore, Adelson said that “there is a huge momentum for the reduction of taxes” in order to meet future competition from Taiwan, Singapore and the Philippines, in what is a common objective of all the concessionaires.

With a college degree, Masters and PhD in the United States, Chui Sai On's academic background is a plus, according to Wynn and Adelson that shows he understands peoples problems and how to resolve them.

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