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 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 would be located in Primorye, one of four special areas set aside by Russia after a 2009 legislation banned all other casino gambling. The region of Primorye borders China and Korea, therefore the casino is expected to be put on the borders of Vladivostok.
'a great deal of people don't recognize that Vladivostok is A asian casino opportunity that is in Russia,' Dean Macomber told The Wall Street Journal. Macomber is the president of Macomber International Inc., an American business which has consulted aided by the Russian casino industry.
That prime location could be the key to getting severe names in to the Russian casino market. Many casino that is major have shied away from investing in the country due to a murky regulatory system and concerns over hefty corruption. However the combination of the location and tax incentives have made a casino in Primorye an even 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 Chinese enclave. Now that numerous international casino corpo