To Russia With Like 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 develop into a major player in the lucrative Asian casino market.
In the Zone
Ho’s casino-resort could be located in Primorye, one of four zones that are special aside by Russia after a 2009 legislation prohibited all the casino gambling. The area of Primorye borders China and Korea, therefore the casino is anticipated to be placed on the outskirts of Vladivostok.
‘a great deal of people 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 business which has consulted utilizing the Russian casino industry.
That prime location may be the key to getting serious names to the casino market that is russian. Most major casino brands have actually shied away from investing in the country due to a murky regulatory system and issues over heavy corruption. However the combination of the positioning and tax incentives have made a casino in Primorye a far 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 within the Chinese encla Continue reading