Chinese Island Hainan Says No To Legalising Gambling
The phenomenal success of former Portuguese colony Macau in the gambling world has got many Asian countries looking to emulate it. With over $45 billion in revenues in 2013 and dream growth forecasts Macau is seen as one of the best working model for global gambling and resort companies.
With over 1.3 billion people China has the most potential to for growth and the rewards for success are huge. While currently China only allows gambling in Macau, there is growing pressure and temptation for other areas in China to follow suite. One such example is that of China’s holiday island of Hainan where there are already scores of international developers investing billions in luxury resorts. Some of the names include InterContinental Hotels Group and Starwood Hotels & Resorts Worldwide.
There are plans from developers as far as South Africa where Sol Kerzner’s Sun City casino king have announced plans to build a $1.6 billion Atlantis Resort at Haitang Bay. In the next five years there plans to develop dozens of five-star hotels in this burgeoning island. Hainan has global casino companies like MGM Resorts international and Caesars Entertainment waiting to take advantage of luxury upscale tourism. Wherever there are luxury resorts casinos are not far behind.
However senior officials from the island have put a dampener on possible casino aspirations as they announced they would not consider legalizing gambling despite the massive global development underway on the island.
Both Hainan’s Communist Party Chief and mayor of resort city of Sanya emphatically dismissed allowing casinos to operate there. Hainan’s Communist Party Chief, Luo Baoming was quoted as saying,” We cannot at all allow Hainan to operate casinos.”
While it seems that for now Macau will enjoy a monopoly in China, it would be hard for other regions in China to remain oblivious to the massive gambling revenues that Macau is enjoying. In fact the entire region of Asia is seen as the largest gambling market in the world. Only a few weeks ago gambling mogul Sheldon Adelson said he would do “whatever it takes” to get a foothold in Japan who are considering legalizing gambling.