China Mulls Extending Gambling to Hainan

China Mulls Extending Gambling to HainanChina is currently exploring the possibility of legalizing gambling in Hainan, the country’s southernmost province consisting of a number of tropical islands with sandy beaches, sunny weather, and an already well-developed tourist industry.
The development is seen as part of a wider move to increase tourism in the country, which stood at 31 million visitors in 2016, as well as placing it in a better position to compete with other gambling destinations spread out across the East, including the Philipines, Vietnam, Australia, and Japan when it eventually opens its integrated casino resorts in time for the 2020 Tokyo Olympics.
At present, China bans all gambling activities apart from those offered in Macau, but apparently Chinese President Xi Jinping has already indicated that he was open to allowing a range of gambling activities to be permitted in Hainan. In fact, a draft proposal is currently being worked out and amongst the potential gambling activities being considered is a lottery, internet gambling, sports betting, and brick-and-mortar casinos later on down the line.
News of the development has created a buzz of excitement in Hainan, especially as it has ben suffering financial difficulties following troubles experienced by its biggest conglomerate HNA and its flagship Hainan Airlines Holding Co. The opposite reaction can be said of Macau located just 474 km away, though, which has reacted with indignation at the news. As Sam Chi Yung, a Hong Kong analyst with South China Financial Holdings Ltd, explains:
“I think investors were shocked — I’m a bit surprised. It’s difficult to say what the impact will be on their profits as it all depends on China’s policy and how they arrange the license. But what’s sure is that people going to Macau to gamble will drop.”
At the head of Macau’s list of concerns is that a regulated gambling market in Hainan would attract the same type of mass market tourists and gamblers as it is currently targeting. While firms such as Morgan Stanley and Sanford C. Bernstein & Co have thus far tried to play down such worries, major casino companies such as Las Vegas Sands and MGM will obviously be wary of such a development, especially considering the amount of money that they have invested and continue to spend in Macau.

Poker News
Japan Introduces Responsible Gambling Bill
28 May 2018
Japan’s bicameral legislature, known as The National Diet, consists of an upper House of Councillors and a lower House of Representatives, with the latter having started discussing the Integrated Resorts Implementation Bill last week. Being debated is the regulatory framework required in order to set up an efficient and well functioning casino market in the
Ohio Casino Revenue Up 1% to $71.8m in April
17 May 2018
The Ohio Casino Control Commission has released its gambling results for April, with the state’s four casinos collecting $71.8 million last month, up by almost 1% compared to the prior year. Meanwhile, the Buckeye State’s seven racinos fared considerably better, with their revenue rising by 8% to $89.7 million from their slots and video gaming
NJ Generates Record iGaming Revenues in February
15 May 2018
In April, New Jersey’s online gambling market saw its revenue rise by 10.6% to $23 million versus the same month in 2017, with the amount posted second only to the record $25.6 million collected in March 2018. As a result, the Garden State has now generated $92.5 million over the first four months of this
Virginia Poised For Historical Gambling Expansion
11 May 2018
Virginia is among the country’s more conservative states when it comes to gambling, and for many decades has resisted the allure and revenues that the industry might bring. In the 1990s, for instance, its legislature turned down a push for riverboat gambling, and the following decade Internet gambling cafes were outlawed. For the past five