On Monday, Taiwan’s Parliament approved a measure to legalize gambling on offshore islands, Reuters reported. The bill legalizes gaming through an amendment to the Offshore Islands Act.
The news service said that planning will continue for three mega-resorts that could eventually compete with Macau and South Korea for tourism traffic.
In early December, The China Post reported that Taiwan’s Council for Economic Planning and Development said that casinos could be built on three offshore islands -- Penghu, Quemoy and Matsu -- if gambling was legalized.
AMZ Holdings, an Isle of Man development and management company, is one of three operators that might develop on Penghu, Reuters said.
AMZ said it has spent a considerable period of time amassing property in Penghu, and its directors believe that it is the largest private owner of property on the island. The company added that its property is fully approved for the commencement of developing a resort.
“Taiwan is one of the most attractive markets for gaming in South East Asia and a key location for any gaming resort operator,” said Michael Treanor, chief executive of AMZ, in a prepared statement. “This is a great day for Taiwan and Penghu in that it will provide a strong catalyst for economic growth, will facilitate the development of Penghu as a prime tourist destination and will help attract foreign investment to Taiwan.”
The bill still requires the signature of President Ma Ying-jeou, who, according to media reports, supports the bill’s passage.