Twain Approved Gambling

It is true that when a government or administration makes any change to a gambling law, there are generally waves of change that occur as a result of the decision. That was the case 14, January, 2009 when the Taiwan government approved a special Bill that repeals a law against casino gambling in the country.

AMZ, a UK-listed property development company, is anticipating bringing a casino resort to Penghu and with recent announcement their stock skyrocketed on the London Alternative Investment Market. Their stock price rose by 46%, to 91% pence. AMZ plans on being involved seriously in the bid to get a gaming license from Taiwan.

It has been a long time coming for the country to repeal the gambling law. Taiwan government legalized casino gambling, last week after 10 years of debate, has set aside two other state-owned plots for potential development. In a telephone interview Justin Chou, one of the members of the ruling Kuomintang, said “The first draft of this Bill was made in 1994, and it took so long because there’s so much debate and so many competing voices. Because Taiwan’s economy is now falling, the belief is that probably these resort projects can help spur the economy.” Taiwan authority has indicated that two or three gaming licenses will be issued once additional legislation is passed.

Taiwan’s recent economy is the main reason that the gambling laws have been changed. The tourism cash that used to flow freely has decreased in recent several years and the administration is hopeful that casinos will bring many of that tourism back. On the other hand, experts say that action was typically damaging to Macau. As already the casinos in Macau (Macao) have begun to struggle financially, and in this circumstance, Taiwan joins Singapore to make much competition for casinos of Macau.