Macau casino mogul Lawrence Ho seems likely to be the first gaming that is major 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 become a major player in the lucrative Asian casino market.
In the area
Ho’s casino-resort will be located in Primorye, one of four zones that are special aside by Russia after a 2009 legislation prohibited all other casino gambling. The region of Primorye borders China and Korea, and the casino is expected to be placed on the borders of Vladivostok.
‘A lot of individuals don’t realize that Vladivostok is A asian casino opportunity that is actually in Russia,’ Dean Macomber told The Wall Street Journal. Macomber may be the president of Macomber International Inc., an American company which includes consulted utilizing the Russian casino industry.
That prime location will be the key to getting serious names into the Russian casino market. Many major casino brands have actually shied away from investing in the country due to a murky regulatory system and issues over hefty corruption. But the combination of the location and tax incentives have made a casino in Primorye a far more interesting proposition.
Like Father, Like Son
Lawrence Ho is the son of Stanley Ho, the Macau-based casino tycoon who once held a monopoly on all of the gambling within the enclave that is chinese. Now that many casino tha (more…)