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Israel Begins Casino Paperwork

16 May 2005

ISRAEL – As reported by the Israel Globes: "Minister of Finance Benjamin Netanyahu told the Knesset Finance Committee today that he was beginning practical preparations for construction of a casino in Eilat. Preparations include both planning the project and preparing accompanying legislation.

"Netanyahu disclosed the casino plan during a review of the state of the economy at the opening of the Knesset's summer session. He said that investments had totaled an annualized $5 billion in the first quarter, 40% more than the high of $2.9 billion in 2000.

"…'The Israeli economy is considered an overall success a dynamic, open, growing, and regenerating economy,'Netanyahu declared. He attributed the positive results, including continuing growth and falling unemployment, to his advanced policy of cutting taxes and instituting reform…"

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