US$2.5 bil. allocated for casino: developer
CNATAIPEI--An international developer bidding to build a casino resort on the outlying island chain of Matsu said yesterday it has allocated US$2.5 billion for the support infrastructure.
January 24, 2013, 12:03 am TWN
This will remove the biggest development obstacle Matsu faces, which is a lack of transportation infrastructure, said William Weidner, chairman and CEO of Weidner Resorts.
The money would be used mainly to upgrade the Beigan airport in Matsu so that it could handle larger aircraft such as the Airbus A320s and Boeing 747s, Weidner said.
In addition, a bridge connecting Beigan and Nangan islands in the Matsu chain, a ferry harbor and a yacht terminal will also be built, he said.
“(The project) will develop Matsu's infrastructure and help it connect to the world,” Weidner said.
He said the US$2.5 billion, which is part of a US$8 billion fund for the entire project, came from Bank of America, JP Morgan, Deutsche Bank and Credit Suisse.
Weidner said the resort could generate 70,000 direct job opportunities for Taiwan.
Residents of Matsu County passed a referendum last July to allow casinos on the island chain.
However, bids for such development cannot proceed until a bill governing the operation of casinos is passed in the Legislature.
At present, the Cabinet is working on the draft legislation.