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Amazing Holdings Hoping to Get Casino License in Taiwan

On September 3rd, 2007, Amazing Holdings Plc, a development organization headed by Nevada gaming tycoon Larry Woolf commented that they will start the construction of a five star casino resort worth $50 million as part of their initiative to get the first casino license in Taiwan.

Ashley Hines, the executive director of Amazing Holdings, which is based in Isle of Man, said that they are hoping to buy the 102 pieces of land that they need as soon as possible. She added that the building for the hotel will begin in January 2008, which could be modified into a casino if they win the gambling license.

The hotel is expected to be completed by 2009. The land buyout deal of Amazing Holdings will finalize an eight year deal on Penghu which Amazing Holdings plans to utilize for a 1,000 room hotel and casino facility.

Amazing is expecting Taiwan to allow casino gambling within 6 months. CEO Larry Woolf is putting his hopes on Amazing to introduce casinos to the gambling market in Taiwan while other competitors like Wynn Resorts Limited by Steve Wynn and Venetian Macau by the Las Vegas Sands Corporation of Sheldon Adelson, debut into the Macau and Singapore gambling markets.

Larry Woolf's Navegante organization is currently handling at least seven casino facilities in the United States like the Plaza Hotel and Casino in Las Vegas, Nevada and the Casino Fandango in Carson City, Nevada. The market shares of Amazing Holdings have improved 27% since being listed on December 2005.

10/15/2007 03:42 PM

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