Wishful thinking or a real possibility? Well, according to the following article from a Mainland Chinese publication it certainly looks like change is in place for the return of Horse Racing in China.
If you find the English used in the following article a bit weird – it’s because it’s a Google automated translation from the original simplified Chinese text. But hey, try and look beyond the weird English and you might get the message.
We’ve done a brief summary of our take on the subject and it immediately follows the article...
If you find the English used in the following article a bit weird – it’s because it’s a Google automated translation from the original simplified Chinese text. But hey, try and look beyond the weird English and you might get the message.
We’ve done a brief summary of our take on the subject and it immediately follows the article...
Headline: Mainland "betting" the fastest-Ming Qiu lifting the ban
Dated 2009-9-17 (Translated through Google from Simplified Chinese)
“Mainland "betting" lifting the ban had been see the dawn of deregulation, according to authoritative sources told this newspaper exclusively revealed a few days ago the Ministry of Finance General Administration of Sports has played down the joint establishment of a national gambling company, intends to take over the future to open up the mainland Ma Cai industry management and marketing, and learn from Japan model from the Government on the implementation of the national race track listing management. Expected value of the horse race betting on the 100 billion industry in the2011Years ago, was officially launched, will stimulate China's tax increase.
PRC Tang was strong and Shenzhen on the 16th Electric
According to inside sources, the Chinese race has been this year, the Preparatory Committee8Earlier this month the establishment of a low-key, ChinaGuess Model RacingLottery market has entered a substantive operational phase, but is no longer "thunder." Horse racing betting system is currently in the Mainland software upgrade has been completed, while WuhanQuiz-type lottery ticketsPilot has fully been approved. Some industry people are optimistic and anticipate that the full lifting the ban on horse races next year9On the latest available at2011Years to achieve.
Abandoning the "Hong Kong model"
According to the sources on condition of anonymity said the General Administration of the Ministry of Finance set up a joint sports betting company, was formerly the Treasury Management Division of the Lottery to turn into a state-owned gaming company in the upgrading ofAs deputy departmental levelUnits, where the former Director Lou Qu fruit is expected to serve as first chairman.
The establishment of a national gaming company specializes in management of horse betting is different from the existing mainland by the Ministry of Finance, Ministry of Civil Affairs, General Administration of Sport bull decentralized management system. Allegedly nineties of last century mainly as a draw in Guangzhou, Beijing to build its own racecourse loose managementHorse racing industry failedLesson, and second, a huge population of the mainland market, the horse from lifting the ban was a huge gambling taxes, centralized management by the central government operations are conducive to supplement the central government pulledGDPContribution rates, while effectively crack down on gambling huge amount of money currently in the MainlandThe Lottery.
Mainland, the horse after the legalization of gambling is not the draw after the famous Hong Kong model. Some observers refer to the Hong Kong Jockey Club management model does not apply to the Mainland and Japan will invest in rural areas the majority of horse-racing revenue building, more in line with the economic needs of the central macro-control is expected to Japan's national government management system or migrate to China. It is reported that in accordance with current lottery regulations, horse betting in the Mainland will be charged20%The tax is expected most of the money would be injected into new rural construction and the mainland urban and rural reform.
According to sources, this year8Earlier this month, by the State Sports General Administration and the Ministry of Finance take the lead, with the Hubei Provincial Government, Wuhan Municipal Government jointly organized by the Preparatory Committee for the establishment of the Chinese race to be fully planned cities in the Mainland Ma Cai and opening up the operation of experimental work.
Material20City open trial
At the same time, the State Ministry of Finance, General Administration of Sport approved the proposed plan to carry out major cities in the MainlandGuess Model RacingSports lottery. Some IT professionals have received news that the industry in the Mainland Ma Cai slice of a total of 20AMajor cities, including South China, Northeast, North, Northwest, East, Southwest and other six areas, eachDistrict clothBoard 3 Ma Cai pilot cities. Which has been great concern in southern China, the pilot cities will be "Whispering" Wuhan, Guangzhou, Changsha. The Wenchuan Earthquake badly damaged the economy of Chengdu, China Railway has five Bureau, more than 3 billion joint venture in Chengdu finance, construction, covers an area of 8000Acres of horse-racing track, to declare Guess Model Racing Sports lottery pilot cities.
According to reports, the mainland horse racing betting system software upgrade has been completed. Among them, the supporting facilities for all horse racing in Wuhan have been perfect, once the state of the "Horse Color" gate opening, you can immediately sell horses butt color.
According to sources, the newly established China this year, the Jockey Club or11On horse races at the speed of the Seventh Wuhan further "Test the water"The real sense of the horse lottery. Last year, the mainland's first commercial horse racing was held in Wuhan, has a direct introduction ofQuiz-type lottery tickets"TopQuaScraping, "Dui Jiang has been regarded as a prelude to Ma Cai gate opening."
Dated 2009-9-17 (Translated through Google from Simplified Chinese)
“Mainland "betting" lifting the ban had been see the dawn of deregulation, according to authoritative sources told this newspaper exclusively revealed a few days ago the Ministry of Finance General Administration of Sports has played down the joint establishment of a national gambling company, intends to take over the future to open up the mainland Ma Cai industry management and marketing, and learn from Japan model from the Government on the implementation of the national race track listing management. Expected value of the horse race betting on the 100 billion industry in the2011Years ago, was officially launched, will stimulate China's tax increase.
PRC Tang was strong and Shenzhen on the 16th Electric
According to inside sources, the Chinese race has been this year, the Preparatory Committee8Earlier this month the establishment of a low-key, ChinaGuess Model RacingLottery market has entered a substantive operational phase, but is no longer "thunder." Horse racing betting system is currently in the Mainland software upgrade has been completed, while WuhanQuiz-type lottery ticketsPilot has fully been approved. Some industry people are optimistic and anticipate that the full lifting the ban on horse races next year9On the latest available at2011Years to achieve.
Abandoning the "Hong Kong model"
According to the sources on condition of anonymity said the General Administration of the Ministry of Finance set up a joint sports betting company, was formerly the Treasury Management Division of the Lottery to turn into a state-owned gaming company in the upgrading ofAs deputy departmental levelUnits, where the former Director Lou Qu fruit is expected to serve as first chairman.
The establishment of a national gaming company specializes in management of horse betting is different from the existing mainland by the Ministry of Finance, Ministry of Civil Affairs, General Administration of Sport bull decentralized management system. Allegedly nineties of last century mainly as a draw in Guangzhou, Beijing to build its own racecourse loose managementHorse racing industry failedLesson, and second, a huge population of the mainland market, the horse from lifting the ban was a huge gambling taxes, centralized management by the central government operations are conducive to supplement the central government pulledGDPContribution rates, while effectively crack down on gambling huge amount of money currently in the MainlandThe Lottery.
Mainland, the horse after the legalization of gambling is not the draw after the famous Hong Kong model. Some observers refer to the Hong Kong Jockey Club management model does not apply to the Mainland and Japan will invest in rural areas the majority of horse-racing revenue building, more in line with the economic needs of the central macro-control is expected to Japan's national government management system or migrate to China. It is reported that in accordance with current lottery regulations, horse betting in the Mainland will be charged20%The tax is expected most of the money would be injected into new rural construction and the mainland urban and rural reform.
According to sources, this year8Earlier this month, by the State Sports General Administration and the Ministry of Finance take the lead, with the Hubei Provincial Government, Wuhan Municipal Government jointly organized by the Preparatory Committee for the establishment of the Chinese race to be fully planned cities in the Mainland Ma Cai and opening up the operation of experimental work.
Material20City open trial
At the same time, the State Ministry of Finance, General Administration of Sport approved the proposed plan to carry out major cities in the MainlandGuess Model RacingSports lottery. Some IT professionals have received news that the industry in the Mainland Ma Cai slice of a total of 20AMajor cities, including South China, Northeast, North, Northwest, East, Southwest and other six areas, eachDistrict clothBoard 3 Ma Cai pilot cities. Which has been great concern in southern China, the pilot cities will be "Whispering" Wuhan, Guangzhou, Changsha. The Wenchuan Earthquake badly damaged the economy of Chengdu, China Railway has five Bureau, more than 3 billion joint venture in Chengdu finance, construction, covers an area of 8000Acres of horse-racing track, to declare Guess Model Racing Sports lottery pilot cities.
According to reports, the mainland horse racing betting system software upgrade has been completed. Among them, the supporting facilities for all horse racing in Wuhan have been perfect, once the state of the "Horse Color" gate opening, you can immediately sell horses butt color.
According to sources, the newly established China this year, the Jockey Club or11On horse races at the speed of the Seventh Wuhan further "Test the water"The real sense of the horse lottery. Last year, the mainland's first commercial horse racing was held in Wuhan, has a direct introduction ofQuiz-type lottery tickets"TopQuaScraping, "Dui Jiang has been regarded as a prelude to Ma Cai gate opening."
Our take: First off it appears that China wants to adopt the Japanese Model rather than the one in place in either Hong Kong or Macau. So you could end up with both a National Governing body and local authorities overseeing the gaming components of horse racing in China.
We do not expect the Chinese Government to incur the heavy capital investment required and suddenly build race courses all over the country and manage racing and public betting. Instead we expect that the Chinese Government to deploy its infinite wisdom to tap into a huge pool of cash to be generated from its citizen’s love of gambling - without incurring large investments in hard assets.
So we expect that the Government will first establish a new Horse Racing and Betting Law (as vague as possible so it can be interpreted at will). The law will call for the actual race course development and hosting of horse racing to be outsourced to private so called legal person limited companies.
We do not expect the Chinese Government to incur the heavy capital investment required and suddenly build race courses all over the country and manage racing and public betting. Instead we expect that the Chinese Government to deploy its infinite wisdom to tap into a huge pool of cash to be generated from its citizen’s love of gambling - without incurring large investments in hard assets.
So we expect that the Government will first establish a new Horse Racing and Betting Law (as vague as possible so it can be interpreted at will). The law will call for the actual race course development and hosting of horse racing to be outsourced to private so called legal person limited companies.
Examples of such would be Richman’s Racing’s China partner - The Royal Nanjing Jockey Club and a few others already licensed to build and manage race courses and non-gambling horse racing events. More companies could be authorized. The only difference from the present will be the ability of these companies to accept bets from the public.
The New Law will also provide that these authorized race course operators pay the Government a certain gambling tax from gross bet sales. Twenty percent (20%) is mentioned in the above article but it could well be more.
The Government will establish a method to effectively collect this tax and announce that the tax, which could amount to to hundreds of millions every week, will be deployed by both the central government and provincial governments to finance rural development and the eradication of poverty. It'll be politically correct and win – win for all. If propertly administered it'll be a great way to recycle domestic capital.
We expect the appointed companies to start investing in race courses in virtually all provincial capital cities - creating a huge demand for bloodstock, qualified jockeys and everthing else that goes with it.
That’s why Richman’s Racing have engaged a team of international racing experts to establish a comprehensive bloodstock importation program, breeding, equestrian hospitals and jockey training and certification facilities initially at our Royal Nanjing Jockey Club and later at other strategic locations in China.
For more information on business opportunities with Richman's Racing, please contact...
Dr A S Johan at richmansracing@gmail.com
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