Ho's sports betting monopoly in Macau wins 1-year extension

Gaming magnate Stanley Ho Hung-sun's monopoly on sports betting in Macau has received a one-year extension despite calls for liberalisation of the sector, according to sources.

Mr Ho's Macau Slot, the sole operator of over-the-counter and internet soccer and basketball betting in the city, will have its monopoly extended by an additional year by the administration of outgoing Macau chief executive Edmund Ho Hau-wah.

Macau Slot's sports betting monopoly was last renewed for a term of three years in 2006 and technically expired on June 5 this year.

A formal announcement of the extension is expected to be published in the official government gazette in the next few weeks and could come as early as Monday.

Despite various calls from industry players, Macau has stopped short of moving to liberalise sports betting as it did with casino gaming in 2001. While it was first to offer the service, soccer betting turnover in Macau has in recent years been dramatically eclipsed by Hong Kong.

Rival casino operators in Macau have expressed interest in launching and managing sports betting operations in their own resorts but have been unable to do so, given Macau Slot's monopoly status.

At the same time, several leading foreign sports-betting firms have shown interest in entering the market.