To Russia With Enjoy for Macau Casino Magnate Lawrence Ho
Macau casino mogul Lawrence Ho seems likely to be the first gaming that is major to move into the Russian market, as his company has signed an understanding to open a casino there. The move signals Russia’s intention to develop into a major player in the lucrative Asian casino market.
In the area
Ho’s casino-resort will be located in Primorye, one of four special areas set aside by Russia after a 2009 legislation prohibited all the casino gambling. The region of Primorye borders China and Korea, while the casino is expected to be put on the borders of Vladivostok.
‘a great deal of individuals don’t understand 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 with all the Russian casino industry.
That prime location will be the key to getting serious names into the Russian casino market. Many major casino brands 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 far 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 in the enclave that is chinese. Now that many international cas (mer…)