188bet Live Casino Service Co., Ltd. (hereinafter referred to as "188bet Live Casino Service") is continuously strengthening its control over the duty-free business。May 7，188bet Live Casino Service Announcement，Intended to acquire 51% equity of Hainan Duty Free Co., Ltd. (hereinafter referred to as "Hainan Duty Free") held by China Tourism Group, the company's controlling shareholder, in cash，The transaction price is 20.6.5 billion yuan。After this transaction is completed，Haifu Free Shipping Company will be included in the scope of 188bet Live Casino Service’s consolidated statements。This means，188bet Live Casino Service officially brings Haidu under its banner。

According to announcement，The business scope of Hainan Duty Free is to engage in the business of duty-free goods approved by the state for outlying islands within Hainan Province，Includes: Candy、Infant formula milk powder and complementary food、Health food、Class I and II household medical devices and other duty-free goods (subject to the business scope approved by the license)；Place construction and venue leasing；Operating wholesale and retail trade of taxable goods、Warehouse、Logistics、Business Services；Foreign Trade。Before transaction，188bet Live Casino Tourism Group holds 51% shares，Hainan Tourism Investment and Development Co., Ltd. holds 49% shares。

Public information display，Back in 2011，Approved by the State Council，The Ministry of Finance and the Ministry of Commerce、General Administration of Customs、The State Administration of Taxation reviewed and approved the establishment plan and company articles of association of Hainan Free Shipping funded by a wholly state-owned enterprise in Hainan Province，Allow Hainan Duty Free to operate state-approved offshore island duty free goods within Hainan Province、Construction of duty-free shops and other related businesses。Soon，Hainan has formed a local CDF、Hainan Duty Free jointly "shares" the cake of Hainan Duty Free。Among them，Sanya International Duty Free City controlled by 188bet Live Casino National Travel Service, a subsidiary of 188bet Live Casino Tourism Group，As one of the carriers of Hainan’s offshore island tax-free policy，has long occupied most of the duty-free retail industry in Hainan Islands；Haikou Duty Free’s main business project was Haikou Meilan Airport Duty Free Shop，Jointly invested by Haidu and HNA Group，and Sanya International Duty Free City are located at the north and south ends of Hainan Island respectively，In "limited competition" state。

However，In late October 2018，188bet Live Casino Service issued an announcement，The controlling shareholder China Tourism Group signed an agreement with the Hainan Provincial State-owned Assets Supervision and Administration Commission，Hainan Provincial State-owned Assets Supervision and Administration Commission transferred its 51% equity in Hainan Duty Free Company to China Tourism Group for free；China Tourism Group will transfer its 2% stake in China National Travel Service to the Hainan Provincial State-owned Assets Supervision and Administration Commission for free。To this point，Hainan’s duty-free market has been divided into two parts for a long time，“Make whole” again。

Industry insiders said，After the completion of this transaction，188bet Live Casino Service’s duty-free business concentration in Hainan has further increased，And the entire domestic market，Their tax-free share has also been increased。

*Source of this article: Beijing Business Daily, author: Yang Hui, original title:《188bet Live Casino Service officially brings Haidu under its banner》.