QUA 24 DE ABRIL DE 2019 - 03:39hs.
It analyzes new options on Hainan Island

China could end Macau’s gambling monopoly

The Chinese government is mulling the legalization of certain forms of gambling on the Hainan Island, Bloomberg reported. The move would strip Macau of its status as the only Chinese territory where gambling is legal. It is also hoped to improve the ailing economy of a strategic southern region.

According to Bloomberg’ sources, a specially formed group headed by Chinese President Xi Jinping is discussing the possibility for the legalization of online gambling, lottery sales, and sports betting on the Hainan Island. If approved, the proposed gambling legalization could also evolve into the addition of land-based casinos in the Southern China province.

Gambling and the promotion of gambling services are currently banned on the mainland. What is more, the Chinese government has long been openly and strongly opposed to activities of this type. However, at a time when Hainan needs a serious economic boost, it is believed that certain forms of gambling could be of great help.

It is also important to note that the gaming-focused proposal is part of a bigger rescue plan that also involves relaxing of current visa regulations and construction of an airport in Western Hainan. Currently, there are three operational airports on the island, and they are all located in its eastern portion.

Reports about the proposal emerged at a time when the province is struggling with a serious financial deficit. In addition, its largest conglomerate – HNA Group, which operates two of its airports -, is facing its own financial demons. The island, known for its beaches, is also looking for ways to bring international tourists back.

Source: GMB / Casino News Daily