The Chinese and those of Chinese descent are well known for liking a gamble. The success of Macau and the marketing programmes and special events arranged by casinos around the world aimed at their Chinese customers are proof of the importance of this market. The majority of gamblers in Macau come from Mainland China and Hong Kong, but close behind come the Taiwanese.

As yet there are no casinos in Taiwan, legitimate ones anyway. Illegal gambling is rife with over 170 cases presently being investigated by police. A growing number of people believe that if a casino law was passed the illegal casinos and associated criminal activity would decline rapidly. It would also be another source of revenue for the country. Whether legalising casinos is on the government agenda is anyone’s guess. One day the word is that a law is imminent, the next that it is not being considered.

One company that is keeping the faith is Amazing Holdings Plc listed in London. In September the company announced it would start construction on a US$50 million 5-star resort in January, following an 8-year process to buy land on Penghu. At the time Amazing was betting on a casino law within six months. The development will include a casino should the company be awarded a licence.

Two years ago Penghu residents voted in favour of casinos. Last August the Taiwanese Government said it is discussing the feasibility of casinos and seeking public approval. Amazing may have been a little optimistic in its 6-month estimate but the fact that legal casinos could bring at least US$1 billion in annual revenue to the island is a huge point in favour of casino legislation. Maybe Amazing will not have to wait another 8 years for a gaming licence. (E-11.23.07)

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