Considering Chinese President Xi Jinping’s anti-corruption campaign, a Hainan casino would mark a dramatic departure in the country\u2019s approach to gambling, which is entirely banned on the mainland.<\/p>\n
According to Bloomberg<\/em>, those who watch global gaming movement never saw it coming. \u201cI think investors were shocked — I\u2019m a bit surprised,\u201d said Sam Chi Yung, a Hong Kong-based strategist with South China Financial Holdings Ltd.<\/p><\/blockquote>\nThere is also speculation that the move is part of a bigger plan to reshape the economy of the island, which is running at a fiscal deficit, despite its popularity with Chinese tourists. Rumors of a Hainan casino, as well as a new airport and the relaxing of visa requirements, could expand the area’s tourism base and bring in more foreign visitors.<\/p>\n
Add it all up, and suddenly the idea of a Hainan casino — or multiples thereof — starts to make sense. However, the idea of the island’s gaming scene ever competing with Macau is still far off in the future, if ever. Even if casino licenses were being handed out tomorrow, it would be years before any semblance of genuine competition became a reality.<\/p>\n
That\u2019s an eternity in the gaming world, but it\u2019s something that Macau’s investors will be keeping tabs on.<\/p>\n","protected":false},"excerpt":{"rendered":"
Another Chinese gambling destination in the form of a Hainan casino is unlikely to shake up Macau’s gaming grip any time soon, according to a leading credit rating agency. Unless, of course, it is. As officials in Beijing contemplate whether to allow gambling on the southern tourist island of Hainan, Fitch Ratings is reporting that […]<\/p>\n","protected":false},"author":42,"featured_media":70294,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,60,18,61],"tags":[],"acf":[],"yoast_head":"\n
Potential China Hainan Casino Won 't Steal Macau Profits<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n