News reports consistently tell us that Macau, that once sleepy little enclave off the coast of China next to Hong Kong, has overtaken Las Vegas as the world's biggest gambling centre as measured by total gambling revenue.
For Macau, this has brought prosperity, jobs, and a new sense of purpose together, one suspects, with a number of less desirable elements. The future for Macau therefore, depending upon how their administration handles it, will not rest on the success of the gaming industry alone, but could lead it to becoming a thriving convention and conference centre, followed by tourism on a huge scale.
That gaming has done so well in Macau surprises few people locally. Any study on the history of gambling will inevitably lead the researcher to evidence that gambling was known in China around 2300 BC, and that it is a pastime enjoyed by many Chinese today.
But, before I take this note further, let me be clear where I stand on the issue of gambling addiction.
I put in the same category as drug abuse, alcohol addiction and any other addiction that afflicts our modern society. It has the ability to destroy lives and families. It needs to be taken seriously by a responsible society, but like it or not, it exists.
I applaud the efforts being shown in Hong Kong by concerned parties interested in the anti-gambling movement, but I seriously question them when they aim to forbid it entirely, given the history associated with gambling. This is not something you can put neatly into a lockable box and believe you have solved the problem. By seeking to ban it, all you do is create a worse environment for those people who are most vulnerable, as they turn to underground and illegal bookmakers who, in addition to being willing to take your money, will also lend you more - for a while - to fund your addiction. The inability to repay, of course, then creates a whole new set of problems.
I started this note with the success of Macau. Something I do not begrudge them one bit. At the same time, I am not advocating that Hong Kong should emulate Macau in that particular industry. What I am saying is that Hong Kong needs to become more open-minded in its treatment of the only legal gambling allowed in Hong Kong, namely that controlled and overseen by the Hong Kong Jockey Club. Yes, I know, on a point of disclosure I am currently very involved with the Jockey Club, so some will see this as being self-serving. However, and as always, my thoughts are independent, and must not be construed as being necessarily representative of the Club's official opinion. They have not asked me to comment.
I must say, though, would I like to see there being bigger turnover at the Jockey Club? Of course I would, because not only does it provide a legal outlet for those who wish to participate, but also it helps to keep Hong Kong's taxes low and, being non-profit, it also helps charity significantly through the Jockey Club Charities Trust.
Would I like the Government to be more of a supporter of the Club's requests to provide more variety of product, taking a balanced view of the overall benefits? Of course I would, but there is a small and very vocal minority group whose views need to be tempered with a dose of reality.
Do I believe the Club will get the support it needs to continue to prosper, to attract some of the business back from Macau, to the benefit of Hong Kong? I wouldn't bet on it.
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