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To Russia With Like for Macau Casino Magnate Lawrence Ho

Wednesday, February 12th, 2020

To Russia With Like for Macau Casino Magnate Lawrence Ho

Macau casino mogul Lawrence Ho appears likely to be the first major gaming operator to move into the Russian market, as his company has signed an agreement 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 area

Ho’s casino-resort is located in Primorye, one of four special areas set aside by Russia after a 2009 law prohibited all the casino gambling. The area of Primorye borders China and Korea, therefore the casino is anticipated to be put on the borders of Vladivostok.

‘a great deal of individuals don’t understand 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 includes consulted utilizing the casino industry that is russian.

That prime location could be the key to getting severe names into the casino market that is russian. Most casino that is major have shied away from investing in the country due to a murky regulatory system and issues over heavy 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 who once held a monopoly on all of the gambling within the Chinese enclave. Now th (more…)