Chinese multimillionaire Ren Ningning wants to turn China into a global horseracing center, according to a report in the Sky News. But he has a few obstacles ahead of him?the Chinese government disapproves of horse racing, and gambling in Mainland China is still illegal. While horse fans can bet on their favorite through a lottery, the most they can win is a bottle of wine, the News reported.
Ningning, who made his fortune in the concrete industry, is not discouraged.
“I want to breed the best horses, best jockeys, and have the best races in China,” he said.
His stables in the Chinese city of Wuhan contains stallions from Australia, Japan and Ireland, and he is not the only one bringing them in. In 2013, a total of 1,730 horses were imported to China, a 64 percent increase from 2010. The Wuhan track has a capacity of 30,000, and in the industry believe that China will allow gambling on the continent. Its Macau territory is the top gaming market in the world. Hong Kong, another semi-autonomous Chinese territory, also is a popular gaming hub.
