Tony Tong, the CEO of Pacific Net, believes that the People’s Republic of China, a long-time opponent of online gambling, may be ready to change its position and make online gambling legal in the country, beginning with the administrative region of Macau. Macau already has the highest concentration of land-based casinos in the country.

A CNET news report quoting Tong stated that the government of China currently takes about 40 percent in taxes off the house winnings in Macau. Tthe legalization of online gambling makes a great deal of sense, therefore, as it would provide the government with significant additional revenues. Since many online gambling companies are anxious to tap the Asian market, the establishment of licensed online gambling companies in the region would likely happen very quickly.

The Taiwanese group, GigaMedia, which sells software for poker and other games, is hoping to expand into China as well. GigaMedia bought the Canadian online gambling company, Grand Virtual, and owns Fun Time, supposedly the largest mahjong site in the world.

Players at Fun Town play for points and prizes and over 50% spend more than 100 hours a week playing at the Fun Town website. GigaMedia also operates EverestPoker, a rapidly growing poker site in Europe. A spokesperson for GigaMedia stated that the United Kingdom is likely to become a major center for online gambling, as well.

Pacific Net sells Bacarrat machines that are not like the typical computerized gaming machines, which use random number generators. Instead, Pacific Net’s machines stream video over the Internet of a live dealer dealing live hands. Tong says this type of machine is preferred in China where the gamblers don’t like the random numbers generators.

Posted on: September 26, 2006

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