Leaving Las Vegas
I’ve posted before about Steve Wynn moving his headquarters to Macao. In this week’s Las Vegas Business Press David G. Schwartz, director at UNLV’s Center for Gaming Research, has an article pointing out the many ways Wynn has been a trendsetter for the gaming business.
Last year 60% of Wynn’s revenue came from Macao, and as Mr. Schwartz points out, “with more of Wynn’s revenues coming from China, discussing a possible move makes sense, if nothing else out of deference to the customers who now are the company’s most valuable.”
Sure, and then there is this from the accountants at Deloitte, the corporate tax rate ranges from 3 to 12%. Individual tax rates range from 0 to 12%. There are no minimum wage laws in Macao. There is no VAT
in Macao. “Resident and non-resident individuals are taxed only on Macau-source income. An individual is considered resident if that person holds an identity card or permanent residence permit issued in Macau.”