Chinese Government to Consider Ending Macau Casino Monopoly
Posted on Tuesday, February 13, 2018 by "T".
China is drafting a proposal that will allow gambling on Hainan Island. If approved, this unprecedented move by the Chinese government will likely reshape the gaming territories in China and strip Macau of its status as the only territory in China where gambling is legal.
Discussions are not public yet, but the government's proposal is actually part of a wider plan that could help transform the economy of a strategic southern province. The proposal is still at its infancy but has the capacity to open the door to physical casinos in the long term. China at the moment, bans gambling and casinos in the mainland.
Hainan is roughly the size of Switzerland and is often referred to as China's Hawaii for its beautiful beaches. The island also strategically serves as a jumping point for the Chinese Navy and Air Force that patrols the South China Sea.
Although there are currently three operation airport on the island, most of them are on the eastern portion. One part of the gaming-focused proposal will be to build a new airport in Western Hainan and to relax visa rules. This will likely help attract more people to the island. Currently, the province is struggling with fiscal deficits and contends with debt woes.
The Hainan plan will definitely create a shift in China's view towards gambling and is going to directly affect Macau's $33 billion casino industry. Lately, Macau has been shifting to attracting Chinese tourists and families to the territory, the same Market that the Island currently draws.
Macau is currently the world's largest gaming hub with annual gross gambling revenues that is five times bigger than that of Las Vegas. While the gambling proposal is meant to rescue Hainan's economy, the impact it will create on Macau's economy will be unfathomable. Even if it is too early to predict the exact impact to Macau, should gambling be legalized on the Hainan Island, analysts are certain that the city will be affected negatively.
| doubletop777||2/13/2018 8:33:58 AM GMT|
| If this does take off, i think that it will be astronomical and the amounts of money being gambled will be mind blowing. The Chinese market is the biggest in the world and they are going to make an awful lot of money|
| pajalnick||2/13/2018 10:32:15 AM GMT|
| it seems like the Chinese government decided to increase revenues in the country's budget ...... and it will be very attractive for gamblers from China and also for players from other countries ..... some countries forbid the game and China is the opposite .... and me it's like ... cool|
| Mober||2/13/2018 11:54:06 AM GMT|
| There is a chance for everyone to make more money, including of course|
the chinese government. So you can say that this is a done deal.
They never say no to extra money, in any government.
What i didnt know was the size of gambling in Macau....
Five times more than Las Vegas ??? Just wow.
| CALICUL||2/13/2018 1:40:03 PM GMT|
| big fight for money. Everyone is desperate to make money. The world has gone crazy because the struggle for survival is just starting now. There will be fierce competitions in many industries. Gambling has a personal attraction and china makes an interesting move. China will earn money because it is a very good decision. Macau he will cry in future.|
| maxiderw||2/13/2018 5:05:27 PM GMT|
| money money and money|
| dule-vu||2/13/2018 5:23:55 PM GMT|
| competition is always good and this will be good for players!they will have more offers and maybe more chance of winning!who know what this will bring to players,what benefits!but everything that is new,will bring people!|
| Sandmanilo||2/13/2018 6:18:43 PM GMT|
| it's very interesting news. We know that chinese players like gambling very much. Now they have more opportunities to play. Who knows, maybe sometimes this place will become new chinese Atlantic City. Their Vegas they have already.|
| godoy||2/13/2018 8:36:15 PM GMT|
| then as the poker is growing very and very and with that several markets are clinging and in the case of china one of the biggest world population would not be left out of this with very rich players will have expensive game ehhhh |
| Mober||2/14/2018 12:35:39 PM GMT|
| If the proceed with the whole thing, then no one could reach them in terms of gambling.|
They have already the first place with Macau only, they will get the second also
The chinese gamblers wont have to go anywhere else to gamble.
| bowie1984||2/15/2018 2:38:48 PM GMT|
| The chinese is smart with this, wherever their new Vegas will be probably would be running with the same group of 'businessmen' and triad gangs just like Macau. However the real money is in the builder contracts this time, since building a couple casinos within a year is no little task...|
| CALICUL||2/17/2018 1:44:01 PM GMT|
| bowie here it is about the Chinese government. They know the administrative region of macau produces a lot of money. Government of China want to enter the market because Macau has autonomy in china and it's about the money fight... is probably the same thing like france with monaco. |
| Mober||2/17/2018 2:09:15 PM GMT|
| How ever things run there with Macau and China, there is no doubt that China makes money,|
from the casinos running in Macau.
The chinese are up into everything. From business like this casino, gambling etc,
to manufacturing. Almost every single brand, has a made in china sticker on it
| bowie1984||2/18/2018 1:00:52 AM GMT|
| Yeah, but isn't there the reason of this monopoly that gambling plus casino games are not quite legal anywhere else within China, thats why Macau is earned this privileged status? I am not sure they are completely tax exempt either. Its just too much money to give up on.|
| Mober||2/18/2018 2:40:12 PM GMT|
| If they can put their hands in more money they will do everything in their power,|
to get it.
There isnt a law covering them? They will just vote a new one. That simple.
Have said it again, but let me repeated once more, cause too many of us here are pissed
with the subject.
They changed the law for online gambling, almost all sites left, cause they didnt want to pay.
And they did well if you ask me, and now in every neighborhood, you see a new shop
every few days full of slots !!! And slots were available only in casinos here.
Politics and politicians....
| bowie1984||2/19/2018 3:18:32 AM GMT|
Posted by Mober:
If they can put their hands in more money they will do everything in their power,
to get it.
That was what I suggested with mentioning the builder company contracts, because for many years China had grow their GDP with these manifactured building and location investments that went nowhere. Practicaly dozens upon dozens of ghost towns laying everyhwhere throughout China 'cuz of this. They mapped them out, invested into building them, built them and then nothing ever happened and nobody came to live there. But there was money to be stolen in all three phases, so there you go.
| godoy||2/21/2018 2:13:02 AM GMT|
| with all the poker going on arriving arriving and being allocated in great rich places of Chima's millionaires who are in spain and abyssal growth and controeh incasos casinos with pure luxury|
| pajalnick||2/21/2018 5:35:19 PM GMT|
| in China, there are now a lot of yufnsyu keys and of course the state decided to take a little money from their pockets)) .... and of course this is very attractive for gamblers from countries where offline casinos are banned .... for example Russia ... . I am sure that next to the border with Russia will be a lot of casino|