THE M3: TAIWAN, JUNKET CREDIT

The Macau Metro Monitor, July 9, 2012

 

 

TAIWAN ISLAND VOTES YES FOR FIRST CASINO RESORT Reuters, China Post, FT

According to Taiwanese media, 57% citizens of Matsu opted for a casino during a referendum, which could result in a casino in Taiwan in 3-5 years.  Matsu is home to 8,000 people and is a 30-minute ferry ride from Fujian province.  After the vote was held, the Executive Yuan asked two of its ministers-without-portfolio — Luo Ying-shueh and Yang Chiu-hsing — to lead the task force of drafting the Casino Establishment Act and selecting the regulatory agency that gives oversight of casino operations.  According to media reports, the Executive Yuan sees the Ministry of the Interior (MOI) as the ideal regulator.  MOI chief Lee Hung-yuan said he does not oppose his ministry being the regulatory agency.  Yet he said currently, neither the Lienchiang County Government nor the National Police Agency under the MOI are familiar with casino operations. “Right now, there's no manpower at the MOI to handle this.” Further regulations on gambling still need to be approved by the central government.

 

Lee also said there are four insufficiencies-transportation, water, energy, land-that still needs to be addressed.  Weidner Resorts Taiwan, a company run by former LVS executive Bill Weidner, has unveiled plans to build a casino resort that includes luxury hotels, professional sports venues and convention halls.

 

MACAU'S GAMBLING JUNKETS RISK LOSING THEIR GAME Reuters

"On average, repayment period is around 15 days. Now some gamblers are asking for 2-3 days longer. Only if it is a very special situation will we consider it," said Kenny Leong, CEO of AERL.  One casino executive said junkets had already cut back on credit extension.  "Junkets have stopped extending as much credit but could a situation like AMAX happen again? For sure," said the executive, who declined to be named due to the sensitive nature of the issue.


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