Macau casino mogul Lawrence Ho appears apt to be the first gaming that is major 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 could be located in Primorye, one of four special zones set aside by Russia after a 2009 law banned all other casino gambling. The region of Primorye borders China and Korea, as well as the casino is expected to be placed on the borders of Vladivostok.
‘A lot of individuals don’t understand that Vladivostok is A asian casino opportunity that is in Russia,’ Dean Macomber told The Wall Street Journal. Macomber could be the president of Macomber International Inc., an American business who has consulted utilizing the casino industry that is russian.
That prime location may be the key to getting serious names in to the casino market that is russian. Most casino that is major have shied away from investing in the country due to a murky regulatory system and concerns over heavy corruption. However the combination of the location and tax incentives have made a casino in Primorye an even 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 within the enclave that is chinese. Now that many casino th (more…)