aiwan passed legislation earlier this year legalizing gaming for the offshore islands alone, subject to a local referendum. Previous referendums and polls on Penghu, widely considered to be the likely gaming resort destination for Taiwan, were all in favour of gaming.
The company has already obtained all of the necessary building planning approvals and resort zoning required for its beachfront property, and will seek a strategic partner to participate in the forthcoming licensing process.
Earlier this week, the Taiwan Central Government Tourism Bureau released a tender document seeking international consultants to assist in planning the facilities and investments required at the gaming resorts. The consultant will also help in drafting the supporting regulations and guidelines to assess the suitability of resort operators in the forthcoming application process expected next year. A favourable referendum result will then enable Central Government to issue gaming licences for Penghu, following the development of the regulatory and application framework.
The Company believes that these developments significantly increase the value of its landholding and enhance future prospects, as a successful referendum will specifically establish Penghu as the gaming destination, creating property demand from gaming and resort operators and other supporting industries.
Michael Treanor, CEO of AMZ said: “Both the referendum and tender announcements are clear indications that Taiwan is the new emerging gaming jurisdiction in Asia. With rapidly increasing Chinese tourism and a strong untapped local market, Penghu could emerge as the Hawaii or Bahamas- styled resort destination of the region, offering a different visitor experience to the urban Macau or Singapore operations.”