Macau casino mogul Lawrence Ho appears probably be the first major gaming operator to move into the Russian market, as his company has finalized an understanding 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 could be located in Primorye, one of four special zones set aside by Russia after a 2009 legislation prohibited all other casino gambling. The region of Primorye borders China and Korea, while the casino is anticipated to be placed on the outskirts of Vladivostok.
‘A lot 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 is the president of Macomber International Inc., an American business that has consulted with the Russian casino industry.
That prime location will be the key to getting serious names into the casino market that is russian. Most casino that is major have actually shied away from investing in the country due to a murky regulatory system and concerns over heavy corruption. But the combination of the positioning 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. Continue reading To Russia With Appreciate for Macau Casino Magnate Lawrence Ho