Hainan gambling won’t leave Macau’s financial well dry

Macau officials shouldn’t lose sleep just because China has thrown support for horse racing and sports lotteries expansion in the southernmost island of Hainan, according to analysts.

International brokerage Union Gaming has downplayed the possible impact of China’s decision to support the development of horse racing and other projects, including “the development of sports lottery and instant lottery on large-scale international games.”

First of all, Union Gaming analyst Grant Govertsen believes that legalization of casinos within China remains far-fetched. As part of the anti-corruption campaign, Govertsen pointed out that gambling in all forms – except for small lotteries – remains illegal within China.

“Noted above, while the government is encouraging the development of a horse racing industry in Hainan (as they have in other parts of China) they are not encouraging the concurrent development of a horse wagering industry. We therefore think the legalization of casinos within China remains highly unlikely,” Govertsen said in a note on Sunday.

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