According to various newspapers in Taiwan, the Government is planning to issue three casino licences. Taking a leaf out of Singapore’s book, the Cabinet (Executive Yuan) proposal is intended to stimulate Taiwan’s tourism industry. The final version of the proposal is not expected until October and the plan still has opposition from some legislators and differences of opinion remain within the Executive Yuan.

The outline proposal would licence the three casinos for an initial 20 years, and foreigners could invest up to 60% in the casino developments. Gaming revenue would be taxed at 40% and split between central government (70%) and municipal governments (30%). Somewhat unexpectedly it appears that the casinos would not be limited to the offshore islands.

Yesterday a scheduled briefing on the licensing plan was cancelled without explanation. Unlike Macau and Singapore, casinos in Taiwan may not be able to attract visitors from the vast Chinese market. Political problems between the two countries pervade many aspects of life. Venezuela, probably influenced by the Chinese authorities, earlier this year stopped issuing visas to Taiwanese and has recently caused protests and indignation in Taiwan for denying visas to its team in the World Youth Baseball Championship next week.

Amazing Holdings PLC has been working towards casino licensing in Taiwan since 1998 with a 27-acre project on an offshore Penghu island. In November 2005 the company stated that it believed three casino licences would be granted and it would receive the first. Last week Amazing Holdings expressed optimism that casino legislation would be in place by the first quarter of 2008. After constant lobbying and being at least two years ahead of possible competition, it appears that the company is about to hit the jackpot.
(E-08.09.07)

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