|According to the Macau Daily Times newspaper, China could be about to license regulated online gambling.|
The broadsheet quotes Francis Lui, Deputy Chairman for Galaxy Entertainment Group, who is reportedly ‘very excited by this business opportunity’ and is making sure his company is positioned to best advantage when it happens.
'Galaxy Entertainment Group is making moves to capitalise on an eventual legalising of Internet gaming on the mainland,' said Lui, whose company is a Macau gaming concession holder.
'Galaxy is very excited by this business opportunity and we have established a foundation through an agreement with an Internet cafe operator in China. Online betters in Asia are used to paying in person rather than through the Internet. Internet cafes provide a convenient location for gaming sites to sell online credits.
'Most forms of gaming continue to remain outlawed in the mainland including online betting, although the Chinese propensity for gaming could eventually see a change in position from the Government. There is undoubtedly a latent demand for online gambling and, in time, the market could open up to a limited number of operators located in China.'