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Casino exec: Taiwan casinos could generate billions

TAIWAN -- As reported by Bloomberg: "Casinos in Taiwan may generate $3 billion in total annual revenue should the island legislate to legalize the industry, according to Las Vegas-based industry magnate Larry J. Woolf, who manages 13 casinos in North America.

"'I don't think it'd be too much of a struggle to reach $1 billion' in revenue each should the government allow three casinos, Woolf, Chief Executive Officer of London-listed Amazing Holdings Plc., said in an interview in Taipei.

"Taiwan is considering allowing casinos on outlying islands such as Penghu. Woolf, 63, is betting the legislation will be passed, paving the way for Amazing to open the island's first casino as rivals Wynn Resorts Ltd. and Las Vegas Sands Corp. expand in Macau, which reaped $9.5 billion in gambling revenue in the 12 months to Sept. 30.

"...Amazing, which is based in the Isle of Man, plans to spend $50 million on the first phase of a 300-room hotel resort in Penghu to be opened by the end of 2009, Woolf said. The development, which will eventually be expanded to 600 rooms, is designed to accommodate a casino should the company win a license..."

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