Hainan govt suspends registration of online gambling companies

The Hainan government has put a temporary block on private investors registering companies in the online gambling business, local media reports.

It is understood that private investors have increasingly interested in registering companies related to lotteries and other forms of gambling in the province after rumors emerged that the government is looking to soon legalize betting on horse racing.

Rumors that gambling on horse racing could be legalized in Hainan have been circulating since 2009, but picked up momentum in recent months.

According to a report from Caixin Global, more than 70 companies over the past year have registered in Hainan as internet gambling companies.

An official with the Administration for Industry & Commerce in the Baoting Li and Miao autonomous county in Hainan said that the suspension was temporary while they awaited further instruction on whether the registration ban should become permanent.

Authorities have also clawed back approvals for sports gambling from companies that had previously registered as gambling businesses.

More news from this jurisdiction

South Korea, Mainland China, JapanTuesday, Mar 20, 2018

Mobile games are likely to grow by more than 8 percent per year through 2020, far outstripping growth for the PC and consoles, according to Daniel Kashti, chief marketing & commercial officer of Kama Games.

Macau, Mainland ChinaMonday, Mar 19, 2018

Zhuhai airport plans to add more flights to improve connectivity to the Macau region.

Mainland ChinaTuesday, Mar 06, 2018

Online sports lottery company, 500.com, said it has entered an accord with the China Sports Lottery Administration Center to jointly develop a physical ticket sales network.

Mainland ChinaMonday, Mar 05, 2018

MGM celebrated the start of the Chinese New Year with senior members of the Women’s General Association of Macau on March 3 with an exhilarating lion dance performed by MGM’s Junior Lion Dance Troupe and singing performances.

Mainland ChinaFriday, Mar 02, 2018

Sales in China lottery tickets surged 31.4 percent year-on-year in January, reaching around CNY38.3 billion, or US$6.1 billion, according to China’s Ministry of Finance.

Mainland ChinaSunday, Feb 25, 2018

A recent hike in price of the Macau transit visa issued in Zhuhai will have a minimal impact on overall visitation and GGR, said Morgan Stanley in a note on Friday.

Mainland ChinaSunday, Feb 11, 2018

Mainland Chinese police have busted an illegal casino in China’s Guangxi Zhuang Autonomous Region, arresting 104 gamblers, and seizing 535 gambling devices.