Since last year, Casino operations in Macau had already suffered. Nonetheless, the situation looks much worse since the tragic coronavirus outbreak. Until now, it has fallen off the grid. Some believe however that the fear of coronavirus can actually boost the Asian online gaming market. Jason Ader thinks this way, at least.
Spring Owl Asset Management’s Managing Partner, Ader said the fear of coronavirus is nothing more than a wake-up call for the Asian governments that restrict online gambling. Speaking to CNBC, Ader said Asian countries should now think about legalising online gambling in their homelands.
Ader who has stakes in Playtech and Bwin.party also made reference to certain details. He said online gambling on a daily basis is up by 90 percent during the Chinese New Year compared to last year’s statistics. He called it an exceptional number and said the land-based casinos are also getting along with the online gambling trend and converging around the globe. He’d explained the essence of online gambling.
He said the more traditional land-based casinos have been left out of the boom witnessed by gambling in the Asian market. The land-based casinos are not legalised. The same industry has, nevertheless, developed itself in the European market. The staunch decision to stop the gambling market from flourishing in Asia not only causes the gambling companies to lose revenue but also causes the countries to lose tax revenue. In fact he went on and urged China to legalise the operations and tax them.
Ader is not the only one, however, who is urging for protected and germ-free betting during the tough coronavirus outbreak. There are also voices coming from Macau. Macau’s David Green believes phone betting will see an increase due to the outbreak. Online gambling, however, is illegal in China and for the last four years even the proxy betting has been made off the limits of the Macau VIP room.
Things aren’t as easy though as the gambling experts predict so far. Chinese media announced an even more strict anti-gambling policy has emerged from the administration. Although the big players on the market are left out but the small operations are being monitored. This is done to ensure no further spread of the coronavirus. There’s a fink hotline and people are advised to call the number anytime they encounter someone they’re gambling together.
Corona Virus has now spread from the first study Wuhan to the region throughout China. Until now, the mysterious virus claimed 304 lives according to official reports.