International edition
June 12, 2021

“Gaming revenue and gaming tax is responsible for 80% of the government budget”

Melco's Lawrence Ho says Macau may reverse gambling restrictions on budget woes

Melco's Lawrence Ho says Macau may reverse gambling restrictions on budget woes
James Packer's business partner Lawrence Ho believes the Macau government will wind back policies restricting gambling as the Chinese territory looks to reverse a crippling budget deficit.
Macau | 10/30/2015

James Packer's business partner Lawrence Ho believes the Macau government will wind back policies restricting gambling as the Chinese territory looks to reverse a crippling budget deficit.

F

ollowing a corruption crackdown by Beijing in the past 18 months Macau's government has hinted at a range of additional measures, such as a smoking ban that could hurt casino operators, including

Yet with gaming revenue falling by more than a third in the past year, the Macau government's once-booming budget surplus faces slipping to an annual deficit.

Mr Ho, chief executive of Melco Crown Entertainment, said talk of more restrictive policies from the Macau government had started to ease.

"I think even the Macanese government has kicked in its austerity measures and realized that gaming revenue and gaming tax is responsible for 80 percent of the government budget. And they might run at a budget deficit next year, which 10 years ago would have been impossible to think of," Mr Ho said.

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