Recession could propel leadership change
One candidate in the November 24 general elections in Taiwan will likely decide if the country will host an integrated resort.
According to the Macau News Agency, the issue could hang on the success of the KMT Party’s Han Kuo-yu, a longtime advocate of an IR in the islands’ second largest city, Kaohsiung. He is running for mayor against Deputy Mayor Hsu Li-ming of the ruling Democratic Progressive Party.
“Maybe the economic recession has made residents more disappointed with previous DPP rule and want to convert to the opposing party,” said George Lin of Lin & Partners, speaking to MNA at the recent Asia Gaming Summit held in Taipei. “This candidate threw around this idea of developing a casino, but we don’t know if he will really promote this idea if he is elected.”
According to the 2009 Offshore Islands Development Act, casinos can be established on the Taiwan islands on Kinmen, Matsu, and Penghu if more than 50 percent of residents approve them in local referendums. Voters in Matsu approved the concept in 2012, but did not proceed with a casino plan.
“The attraction of the island is very small and the government’s attitude is very passive since they we’re aiming for developments in the larger islands. So large casino groups lost interest in Taiwan in favor of Japan,” Lin said. He added that the KMT candidate “has proposed to develop a bridge to the island while maintaining it inside the offshore islands law. This will be the last hope for the future.”
