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 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 special zones set aside by Russia after a 2009 legislation prohibited other casino gambling. The area of Primorye borders China and Korea, therefore the casino is expected to be placed on the borders of Vladivostok.
‘a great deal of men and women 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 company that has consulted because of the Russian casino industry.
That prime location will be the key to getting severe names to the Russian casino market. Many casino that is major have actually shied away from investing in the country due to a murky regulatory system and issues over hefty corruption. Nevertheless the combination of the place 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 enclave that is chinese. Now that numero Read more »