Macau casino stocks fell sharply on Friday afternoon following a report that Beijing was drafting a proposal to allow gambling on the island province of Hainan, partly rolling back a blanket ban.
China’s government has accused casinos on South Korea’s Jeju Island of luring Chinese gamblers with a prostitution price list. On Monday, China’s state-run television network China Central.
Watch Out Vegas! China’s Hainan Island Is All Set To Become World’s No. 1 Gambling Destination. China has been actively participating in talks of reshaping its strategies to bring positive changes in its economy. Betting and gambling is not a new concept to the Chinese. But currently, this is only restricted to Macau and Hongkong. These places have a history of gambling with a well.
Gambling is currently illegal in China except for the special administrative region of Macau and Hong Kong. China Considering legal gambling on Hainan Island could drastically change gambling in all of its territories. For the Hainan island which is China’s southernmost point, this could mean a shift.
There has been speculation that China is mulling over allowing online gaming, a lottery or sports betting in Hainan following media reports. Media reports suggest that government agencies are considering allowing online gaming, a lottery or sports betting in Hainan.
Gambling addiction is nothing new in popular media and pop culture. For years, movies and television series have included storylines addressing the topic or featured colourful characters afflicted with the addiction. That being said, the media’s portrayal of gambling isn’t always the most realistic. Still, it’s important to note that most movies and television series have been created to.
However, certain regions like India and China are likely to record slow growth due to stringent government regulations. Key Segments of the Global Online Gambling Market. Type Overview, 2015-2025 (USD Million) Sports Betting; Casinos; Poker; Bingo; Others; Device Overview, 2015-2025 (USD Million) Mobile; Desktop; Regional Overview, 2015-2025 (USD Million) North America U.S. Canada; Europe.
China Moves to Expand Gambling on Hainan. There are no plans to allow gambling or a casino in the southern Chinese province hainan Hainan, officials said. The Chinese tout on Tuesday island plans to develop Hainan into a pilot free trade zone FTZwith the aim of creating a gateway for the Pacific and the Indian oceans. The gambling area is more than those of the other 11 existing FTZs combined.