Dr. Day-Yang Liu, currently a director of the Center for the Study of Lottery and Commercial Gaming at Taiwan’s University of Science and Technology, stated at the Macao Gaming Show that a preliminary version of a gambling regulation bill might be approved of by the end of May 2015. This is due to the fact that the matter will be thoroughly discussed in December.
Back in 2009, Taiwanese authorities repealed a gambling ban on the islands of Kinmen, Matsu, and Penghu. Moreover, a referendum was carried out in 2012, the result of which indicated that residents were keen on the construction of casino venues, for they would most probably attract more visitors.
Dr. Liu stated during a press conference, held on the first day of the Macao Gaming Show, that Taiwan will first have elections towards the end of November. Then, lawmakers will be given the responsibility of reviewing the most important bills, the casino one being among those.
He also commented on the possibility of Matsu’s residents to ask for the law to be established more quickly. Its draft, however, might be approved of in the first six months of 2015. According to the current preliminary version of the law, casino licenses will be issued and valid for as much as 30 years. What is more, tax will not exceed 16% of the venue’s income from gaming activities.
The scholar, who actively takes part in the preparation of the bill, also added that gambling facilities will have to pay a 7% tax to their local authorities, as well as a 7% national one to Taiwanese government during the first fifteen years. The latter is to be increased to 8% after the end of the above-mentioned period. Finally, casinos will have to pay 9% during the last 5 years.
Dr. Liu announced at the press conference that some international operators have been considering the opportunity to invest in the country.
The bill’s passing was said to be highly dependent on the results from the elections that will be held on November 29. Dr. Liu pointed out that the Democratic Progressive Party is very likely to give its consent to the draft, since it will only allow the construction of gambling venues on the above-mentioned islands. Thus, their economies and tourism will be enhanced, due to the increased number of visitors. And, of course, new jobs will be created.
Dr. Liu also said that the opportunity for entry fee for residents of the islands will definitely be considered. The introduction of such a levy, however, will mainly depend on local authorities.
Mr. Eugene Christiansen, CEO of Christiansen Capital Advisors LLC, stated during the press conference that gambling industry in Taiwan might be determined by the Chinese visa policies to a great extent. Yet, he made sure to mention that, presently, it is absolutely impossible to try to make prognoses about these policies.
