Good Morning. Nothing but net…profit. Hong Kong has now legalized basketball betting in a sweeping change that vastly expands sports betting options in the city beyond horse racing and soccer. The move opens up a whole new door for the Hong Kong Jockey Club, which will serve as the sole licensee, adding to its impressive portfolio. Meanwhile, things are not going so well in Thailand – at least for casino gaming, as the new Prime Minister makes it plain that casino legislation is not on his political agenda. But the new leader has gone further, indicating that poker could also be on the chopping block.
What you need to know
- Hong Kong passes bill legalizing basketball betting, imposing 50% turnover tax; HKJC expected to hold sole license.
- New Thai PM Anutin dismisses casinos as growth tool, vows no gambling reforms, and signals possible rollback on poker’s legal status.
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- Aristocrat announces leadership transition after CEO Moti Malul steps down.
AGB Intelligence
HONG KONG
Gov’t legalizes basketball betting
The Hong Kong Jockey Club is about to benefit from a whole new revenue stream, as the SAR’s government has passed legislation that legalizes basketball betting. While expected, the move is a positive sign of the open outlook of officials towards highly regulated legal sports betting, helping to improve player protection, maximize tax revenue and keep punters away from the black market.
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