To Russia With Adore for Macau Casino Magnate Lawrence Ho
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 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 is located in Primorye, one of four zones that are special aside by Russia after a 2009 law banned all the casino gambling. The area of Primorye borders China and Korea, and also the casino is expected to be put on the outskirts of Vladivostok.
‘A lot of people don’t understand that Vladivostok is A asian casino opportunity that happens to be in Russia,’ Dean Macomber told The Wall Street Journal. Macomber could be the president of Macomber International Inc., an American business which has consulted with all the Russian casino industry.
That prime location will be the key to getting serious names to 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 heavy corruption. But the combination of the location 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 who once held a monopoly on all of the gambling into the enclave that is chinese. Now that many casino that is international have come Read More