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 agreement 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 special areas set aside by Russia after a 2009 law banned other casino gambling. The region of Primorye borders China and Korea, and the casino is anticipated to be put on the outskirts of Vladivostok.
‘a great deal of individuals don’t realize 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 casino industry that is russian.
That prime location may 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 concerns over hefty corruption. Nevertheless the combination of the positioning 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 Chinese enclave. Now that many casino that is int