To Russia With Appreciate for Macau Casino Magnate Lawrence Ho
Macau casino mogul Lawrence Ho appears probably be the first major gaming operator 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 become a major player in the lucrative casino market that is asian.
In the Zone
Ho’s casino-resort is located in Primorye, one of four zones that are special aside by Russia after a 2009 legislation prohibited all the casino gambling. The region of Primorye borders China and Korea, and the casino is expected to be placed on the borders of Vladivostok.
‘a great deal of people 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 company who has consulted aided by the Russian casino industry.
That prime location will be the key to getting severe names in to the Russian casino market. Many casino that is major have shied away from investing in the country due to a murky regulatory system and issues over hefty corruption. Nevertheless the combination of the location and tax incentives have made a casino in Primorye an even more proposition that is interesting.
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 in the Chinese enclave. Now that many casino th