Mongolia has put the wheels in motion to develop its casino industry.
The country has approved a draft bill that would see the building of two casinos targeting China's high-roller gamblers. “Russia, China and Japan are some of the biggest gamblers in the world. Japan and Russia already don’t need visas for Mongolia and Chinese with official passports don’t either,” a member of the working party that drafted the bill said, adding that the bill would restrict Mongolians from playing in the casinos.
Mongolia, which is looking to diversify its flagging economy away from the mining industry, is looking to compete with other Asian countries for a slice of the region’s wealthy gambling market.
The proposed bill has not specified potential casino locations, but the source said one option would be Khushigt International Airport, currently under construction with Japanese partners Mitsubishi and Chiyoda taking lead roles.
The casino would likely be fully owned and operated by private investors as part of a larger effort to boost tourism. “Xi Jinping has plans for restrictions on Macau and business is shrinking now, so hopefully we can get tourists that might have travelled to Macau,” the working party member said.
