China’s Hainan Province has issued a ban on private investors registering online gambling companies following a flurry of interest over the possible legalization of horse racing betting.
According to Caixin Global, authorities have suspended companies looking to be involved in horse racing from registering and revoked previous approvals of those related to sports betting after high ranking officials suggested such operations should only be run by non-profit organizations.
“It is a suspension at the moment. We are waiting for further instructions on whether (such registrations) should be banned going forward,” said an official from the Administration for Industry & Commerce in the Baoting Li and Miao autonomous county in Hainan.
More than 70 companies have registered as online gambling companies in the past 12 months, describing themselves as specializing in online gaming and “equestrian games.”
At present, lotteries run by either the General Administration of Sport or the Ministry of Civil Affairs are the only forms of gambling allowed in mainland China.
However, it has long been hinted that horse racing in Hainan alone could be legalized, prompting the establishment of the Hainan Equestrian Association and the Hainan Horse Industry Association in recent years.
Hainan authorities also signed an agreement in August which promised to “support the exploration of developing sports betting and instant lotteries for large international competitions.”
The Administration for Industry & Commerce in the Baoting Li and Miao is now insisting that further study is needed.
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