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Another Roll of the Dice

23 January 2006

TAIWAN -- As reported by the Taipei Times: "Whether you consider gambling to be a social ill or you see no harm in putting the odd wager on a craps game, it's a fact that the legalization of gambling and the opening of casinos on one or more of the nation's outlying islands would be financially beneficial for Taiwan in terms of tax revenue, tourism and job creation.

"Every year hundreds of thousands of Taiwanese nationals travel to Australia, Macau and the US in order to have a flutter and the amount of revenue casinos earn from these gamblers is phenomenal.

"Fifteen-percent of the US$230 million taken by the Sands Casino in Macau in its opening year came from Taiwanese gamblers and 20 percent of the US$100million taken on the Baccarat tables of Los Vegas' MGM Grand annually comes from Taiwanese nationals.

"...While it is still a hypothetical situation, industry insiders estimate that a US$300 million casino could break even in a mere in six months.

"...If Taiwan doesn't act soon then it could blow its chance of grabbing a piece of the lucrative gaming market..."

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