China Considers Ending The Macau Casino Monopoly With Gambling On Hainan IslandBeijing Looks At Casinos On Country's Version Of Hawaii |
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Could Macau’s days as China’s lucrative gambling hub be numbered?
According to a report from Bloomberg, Chinese officials are considering a move to allow casino-style gambling on the island of Hainan, which is part of China’s southern-most province. The island is dubbed the “Hawaii of China,” thanks to its existing resort industry.
Per a report from CNN, government officials said that Hainan welcomed more than 60 million tourists in 2016, up about 13 percent compared to the previous year. That’s far more than the roughly 42 million people who visit Las Vegas each year.
China is currently drafting a proposal for casinos on Hainan. There are talks of also allowing online gambling there, as well as a lottery and sports betting.
If approved, casinos on the island could dramatically impact Macau’s gambling market, which is currently the largest of its kind in the world. The roughly three dozen Las Vegas-style casinos in Macau won a combined $33 billion from gamblers last year. That was nearly three times the gambling market seen in the U.S. gambling hub of Nevada.
The consideration of casinos comes amid plans for a new international airport on Hainan. The idea would be to attract gamblers from far and wide. About 70 percent of visitors to Macau reportedly are from mainland China.
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