China extends purge on illegal gambling activities
More than 17,000 cross border cases investigated
In recent reports, the Chinese Ministry of Public Security reported that the police force has investigated more than 17,000 cross-border gambling cases. Out of these cases, through 2020 the authorities have shut down 3,400 online gambling platforms and 2,800 illegal payment provider platforms.
In a meeting themed ‘Combating Cross-border gambling’ held on Thursday, The Minister of Public Security, Zhao Kezhi stated that the country plans to continue working on its purge of unauthorised online gambling into 2021.
Inside Asian Gaming reported that during the meeting it was said that the goal is “to crack down on any illegal fundraising network for gambling in the territory, and to resolutely cut off the gambling-related capital chain, technology chain, promotion channel and gamblers flows.”
Back in August, SiGMA News reported that the Ministry of Culture and Tourism Department of China had established a ‘blacklist’ of overseas gambling tourism destinations (not including Macau), listing some cities that have opened casinos to attract Chinese tourists and disrupt the business order of China’s tourism market. This ‘blacklist’ will be expanded to further territories.
Zaho said “We must strictly punish and prevent the soil of cross-border gambling, using the highest and heaviest penalties to achieve the strongest legal deterrence, we must create a strong atmosphere of rejecting gambling.”
M&A Action:
Whether you’re a startup looking for seed investments or an established company looking for an exit, we’ve got your back! We’ll connect you to the right people to make sure you’ll get the best evaluation for your business. What’s more, we won’t charge you a dime for this consultation! Let us help, sign up here.
