Ho Family to Operate Casino in Russia

Ho Family to Operate Casino in RussiaRussia has been slow to open up to casino gambling. In 2009 the Russian authorities opened up four areas where gambling could take place. These four zones are quite far away from Russian centres of population and they are not yet running at their full capacity. The Primorye zone is in Eastern Russia and is about 50 km away from the city of Vladivostok.
It is claimed that the governor of the Primorye gambling zone had applications from five different countries to build a casino in the region and it now appears that the Ho family will be the ones to construct this casino.Lawrence Ho, the son of the Macau casino magnate Stanley Ho, has recently signed an agreement to construct a casino in the Primorye region. Laurence Ho is the Chief Executive Officer of Melco Crown Entertainment Ltd. And it is a company in which he has a shareholding, Summit Ascent Holdings, that signed the agreement to open the latest Russian casino resort.
The location of the Primorye gambling zone is an interesting one for Laurence Ho as it is close to the Russian border with China and he can see the potential for expansion in casino gambling attracting both Russian and Chinese players. Flights from China’s capital city to Vladivostok are quite a bit shorter than flights to Macau which is where the Ho family is based and which attracts many Chinese high rollers.Macau, where Lawrence Ho’s father Stanley Ho held the gambling monopoly for many years until the market opened up to outside casino operators has surpassed Las Vegas in terms of income and in attracting gamblers to its many casino resorts.

Macau attracts gamblers from all over Asia and of course from China as it is the only region in China where gambling is permitted. Lawrence Ho’s company hopes their casino resort will bring in Chinese players including the much sought after high rollers as well as Russian players. It is hoped that the new Primorye casino resort will be opened before the end of 2014.

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