Macau casino mogul Lawrence Ho seems likely to be the first major gaming operator to move into the Russian market, as his company has signed an agreement to open a casino there. The move signals Russia’s intention to become a major player in the lucrative Asian casino market.
In the Zone
Ho’s casino-resort would be located in Primorye, one of four special zones set aside by Russia after a 2009 legislation prohibited all the casino gambling. The region of Primorye borders China and Korea, as well as the casino is anticipated to be put on the borders of Vladivostok.
‘A lot of people don’t recognize 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 because of the casino industry that is russian.
That prime location may be the key to getting serious names in to the Russian casino market. Many major casino brands have shied away from investing in the country due to a murky regulatory system and issues over heavy corruption. But the combination of the positioning 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 whom once held a monopoly on all of the gambling in the enclave that is chinese. Now that numerous internationa […]