To Russia With Appreciate for Macau Casino Magnate Lawrence Ho
Macau casino mogul Lawrence Ho appears likely to be the first major gaming operator to move into the Russian market, as his company has signed an understanding to start a casino there. The move signals Russia’s intention to turn into a major player in the lucrative Asian casino market.
In the Zone
Ho’s casino-resort is located in Primorye, one of four special zones set aside by Russia after a 2009 law prohibited all other casino gambling. The area of Primorye borders China and Korea, plus the casino is anticipated to be put on the borders of Vladivostok.
‘A lot of individuals don’t understand that Vladivostok is A asian casino opportunity that is actually in Russia,’ Dean Macomber told The Wall Street Journal. Macomber is the president of Macomber International Inc., an American business that has consulted with all the Russian casino industry.
That prime location may be the key to getting severe names into the Russian casino market. Most casino that is major have shied away from investing in the country due to a murky regulatory system and issues over hefty corruption. But the combination of the place and tax incentives have made a casino in Primorye an even more proposition that is interesting.
Like Father, Like Son
Lawrence Ho is the son of Stanley Ho, the Macau-based casino tycoon who once held a monopoly on all of the gambling into the Chinese enclave. Now that numerous international casino corporations ha Continue reading