Taiwan Set To Jump Into Growing International Casino Market
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Casinos are currently illegal in Taiwan, but that has not stopped Penghu, a set of islets off Taiwan, from trying to become the next Macau by building a casino town.
Macau has succeeded at building a gambling and vacation hot spot for people from all over the world to go and spend their hard earned money. Penghu, has seen that business idea work and is now set to embark on a casino resort adventure of their own.
The current president of Taiwan, Chen Shui-bian, is a bit wary of becoming dependent on China, and is proceeding cautiously with the plan. Next spring, however, the presidential candidates of opposition parties and the current ruling parties are more receptive to the casino idea.
The ultimate goal of Penghu is to build up the casino resort town to the point where they are receiving 5 million tourists per year.
The idea obviously is to attract tourists from China, which is only 45 minutes away by plane, and since Taiwan’s population is 23 million, and China’s is 1.3 billion, it becomes obvious why Penghu will be targeting China.
For a long time the casino idea could not exist, but in April, when Chen lifted a ban on Chinese tourists traveling to Penghu, it opened the door for the expansion and moving forward of the casino plan.
It still could be some time before any casino is actually open for business though, as the government must first work out all the details to allowing such a casino to exist.