China’s Hainan Province is slowing down registration for online gambling businesses as it is rumored to be considering legalizing horse race betting.
The province has suspended registration of new businesses from private investors. In the past year, more than 70 companies registered in Hainan as internet gaming companies to conduct gambling businesses. The companies have pledged more than 10 million yuan ($1.5 million) in capital and include companies seeking to start online lotteries and equestrian gaming, which could involve betting on horses, according to a report by Caixinglobal.com.
Provincial authorities suspended the registration of companies related to gambling on horse racing, according to an official with the Administration for Industry & Commerce in the Baoting Li and Miao autonomous county in Hainan, the report said. Authorities also revoked the approval for sports gambling from companies that had previously registered as gambling businesses, the official said.
Gambling on horse racing in Hainan have persisted the State Council, China’s cabinet, said in a 2009 document that it would allow the province to look into legalizing some types of sports betting and lotteries. Since then, preparation work and research have been going on in the province, including the establishment of the Hainan Equestrian Association and the Hainan Horse Industry Association, the report said.
