TAIPEI, TAIWAN – As reported by The China Post, the government of Taiwan will be releasing an assessment report at year’s end on whether developing the tiny nation’s gambling industry is a good move.
This is good news for the many gaming companies in the Asia-Pacific region as a new market will be opened up to them.
The news was made public by Chen Tain-jy, Taiwan’s top economic planner and chairman of the Council for Economic Planning and Development (CEPD).
He further added that if such an assessment proves feasible, priority for development would be Taiwan’s outlying islands particularly the island of Penghu which has been for the longest time demanding the legalization of a gambling industry and has been asking for permission to develop gambling as a business to boost its economy.
Other islands also seeking permission to open gambling businesses are the northern counties of Miaolo and Taipei.
Calls for legalization of gambling have intensified recently especially since this was one of the election promises of the incumbent President Ma Ying-jeou when he took office in May.
According to Chen, the assessment report will determine whether it is now a good time to open casinos in Taiwan and will also cover regulation and licensing issues alongside casino operation management and income allocation.
If the report proves positive for gambling to be established, local goverments can file applications to open a business but such applications will also be subject to approval of local residents, and if the local governments will be able to lure potential investors and ultimately if opening up for gambling will bring economic benefits.
These remarks by Chen were made after concluding a fact-finding tour of casino operations in Australia last week in conjunction with an Asia-Pacific Economic Cooperation (APEC) meeting he attended.
His findings revealed that the operations of Australia’s gambling businesses were not very different from other industries which are complicated and difficult.
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