Macau casino mogul Lawrence Ho seems likely to be the first major gaming operator to move into the Russian market, as his company has finalized an understanding to open a casino there. The move signals Russia’s intention to turn into a major player in the lucrative casino market that is asian.
In the area
Ho’s casino-resort would be located in Primorye, one of four zones that are special aside by Russia after a 2009 legislation banned other casino gambling. The area of Primorye borders China and Korea, and the casino is expected to be put on the borders of Vladivostok.
‚A lot of individuals don’t recognize that Vladivostok is A asian casino opportunity that happens to be in Russia,‘ Dean Macomber told The Wall Street Journal. Macomber may be the president of Macomber International Inc., an American company which includes consulted aided by the casino industry that is russian.
That prime location may be the key to getting severe names to the casino market that is russian. Many casino that is major have actually shied away from investing in the country due to a murky regulatory system and issues over hefty corruption. Nevertheless the combination of the place and tax incentives have made a casino in Primorye a more interesting proposition.
Like Father, Like Son
Lawrence Ho is the son of Stanley Ho, the Macau-based casino tycoon whom once held a monopoly on all of the gambling in the Chinese enclave. Now that (mehr …)