Melco CEO Lawrence Ho is under investigation by authorities in Australia. It started after Melco acquired, 20 percent stake in the Crown Resorts purchasing shares from the Australian billionaire James Packer.
Following the announcement of the deal, Australian authorities launched an investigation into Ho’s family and its alleged ties to the 14K and Sun Yee On triad societies in China, reports casino.org.
In response to the allegations and investigations launched by the Australian authorities, Lawrence Ho has maintained his calm and has said that it would help him get ahead in the race of a Japanese IR license. He believes that the investigations will only strengthen his image, and he would come out clear in all regards.
Melco Chief was quoted as saying: “We are always happy to go through the regulatory process. I think if anything if you look at our track record of developing our global footprint overseas, we always prefer jurisdictions where there are strong governance and strong regulatory regime which is why we’ve shied away from some of the other smaller Asian countries where their regulatory regime wasn’t as developed.”
Talking about the current allegations and the company’s chance in getting a Japanese casino license, he said: “Again, it will further demonstrate to Japan that we are a global player that is not afraid of compliance and probity reviews.”
Recently Osaka revealed the names of the gambling operators applying for a casino license and confirmed that Melco have tendered their application.