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Asia set to legalize casino gambling

SINGAPORE, May 12 (UPI) -- Japan, Thailand and Taiwan are among Asian governments considering legalizing casinos to benefit from the region's $13 billion underground gambling industry.

The Philippines is considering legislation that would allow joint ventures with foreign casino operators, the Manila Times reported Wednesday.

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Thailand, Japan and Taiwan have plans to open casinos before 2008, and Singapore is considering a casino on one of its islets. South Korea currently has just one casino where locals are allowed to gamble, but plans to expand the number.

Experts at an Asian Gaming conference in Singapore said the industry was a potential goldmine, blocked by an Asian perception equating casinos with mobsters and prostitution. The event was organized by Dutch bank ABN-AMRO.

Some 85 percent of the legal gambling industry in Asia is currently limited to Macau, the Philippines, Malaysia, and South Korea. North Korea operates at least two casinos, but only foreigners are permitted to gamble there.

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