Wednesday, January 14, 2009 at 7:02 am
Taiwan the Latest to Legalize Gambling
After 15 years of talks, Taiwan's legislature has passed a bill to legalize gambling on the Penghu islands, located off the west coast of Taiwan's main island. While Macau takes the lion's share of Asia's gaming dollars, reeling in more than $10 billion USD in 2007 (2008 figures haven't yet been released), there's no shortage of wagering opportunities in the rest of the region. Cambodia, the Philippines and Japan lead the way, each with dozens of casinos or racetracks. In November, Wuhan legalized horse betting for the first time on the mainland since 1949. And Singapore's first casino, the Marina Bay Sands, is set to open this year.
Religious groups in Taiwan protested the decision, arguing that casinos would have a negative effect on society (see our story on gambling addiction in Asia here.) The Singaporean and South Korean governments also faced strong opposition when they decided to legalize gambling. Their solution: Singapore will allow foreigners to patronize casinos free of charge while requiring local citizens to pay a $68 entrance fee. In South Korea, locals are banned altogether from most casinos. Taiwan has time to weigh the risks—with industry regulations still up in the air, it may be years before the first casino opens its doors.
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Simon Elegant was born in Hong Kong and since then China has pretty much always been at the center of his life. Read more
Liam Fitzpatrick was born in Hong Kong and joined TIME in 2003. He edits Time Global Adviser and is also Time Asia's senior writer. Read more
Ling Woo Liu worked as a television reporter in Beijing and moved to Hong Kong to report for TIME Asia. Read more
Bill Powell is a senior writer for TIME in Shanghai. He'd been Chief International correspondent for Fortune in Beijing, then NYC. Read more
Austin Ramzy studied Mandarin in China and has a degree in Asian Studies. He has reported for TIME Asia in Hong Kong since 2003. Read more
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Wednesday, January 14, 2009 at 10:37 am
The legislation wasn't restricted to Penghu. Actually, it is unlikely that Penghu will get the first casino, even if its mayor wants it. The reasons are simple: location, location, and location.
Wednesday, January 14, 2009 at 10:54 pm
By: Jordan C. Fan, Prophet Of Environment.
Everyone nows that it is impossible to win at casinos whether it is in Macau or Taiwan with me as an exception. It is not the matter of luck but Feng Shui which was well set up by the casinos by famous Feng Shui masters. I am the only one who can break them as I as the top Feng Shui Grand Master. For you the commoners should stay out of casinos or you will lose your socks.
Sunday, January 18, 2009 at 10:49 am
What????
Taiwan's issues was written at "The China Blog",why???
Taiwan not part of china..
"TIME" so bad!!
" The Economist" is one of the best magazine..
Sunday, January 18, 2009 at 6:30 pm
Legislation was enacted as an amendment to the Offshore Islands which includes Penghu - Penghu is the most developed of the islands, and has the better infrasture, roads, decent airport etc so likely to the place where it will start. Already interest from the operators there too. Start saving those socks ....
Sunday, January 18, 2009 at 9:50 pm
here it goes again.. nobody wins except the dealer...