Chinese government to offer online poker to young adults
The Chinese government is to offer online poker to the country’s young adults alongside foreign investors, it has been revealed.
The Communist Youth League, a wing of the ruling Communist Party, will introduce the measures which are being seen as the first sign that China is thawing its hardened anti-gambling stance.
However, there remain conflicts between investors and authorities regarding the provision and marketing of potential prize money, the Financial Times reports.
Chinese business Foundation will provide the investment for the venture, but a degree of uncertainty still surrounds the scheme, with officials reportedly moving to deny that the initiative signalled a change of heart from the authorities.
“This is not a gambling exercise,” said Foundation chairman Teddy Cheng, speaking to the Financial Times.
But Mr Cheng added that the move did suggest a slight alteration in the governmental viewpoint.
“I think the government is starting to relax a little bit,” he commented.
Currently the only part of China in which gambling is legal is Macau, which last year took almost $7 billion in gaming revenue.