International edition
September 18, 2020

Penghu is currently in the final stages of preparation for its referendum

Taiwan announces two casino licenses for offshore islands

(Taiwan).- AMZ Holdings advised that the Executive Yuan of Taiwan has announced that it will be issuing no more than two licenses for casinos established on the offshore islands, following a local referendum.

P

enghu is currently in the final stages of preparation for its referendum, and has previously announced that it will be seeking to establish gaming Integrated Resorts on the island. Developers who secure a license would be required to build a hotel with a minimum of 1,000 rooms.

Further qualifying parameters will be determined by an international consulting company, reporting to the Ministry of Transportation and Communication (MOTC), who have been appointed to oversee the administration of Integrated Resorts on the offshore islands.

The company has spent a considerable period of time assembling land in Penghu, and now has a resort building license awarded to the site, which will facilitate and accelerate the final construction submissions to comply with any new resort guidelines and a successful casino license application.

The firm and its advisors, Merrill Lynch, believe that these developments continue to support the value of its landholdings and keep a number of strategic options open to the company.

Michael Treanor, CEO of AMZ said: “We are encouraged that Taiwan has taken another step to clearly define the parameters and adopt a transparent regulatory framework for their Integrated Resort Industry. We anticipate that the Penghu economy will ultimately benefit given its infrastructural advantage, and their efforts to now attract top international operators and supporting tourism development bodes well for the Company with its substantial private landholding.”

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