To Russia With Love for Macau Casino Magnate Lawrence Ho

To Russia With Love 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 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 could be located in Primorye, one of four zones that are special aside by Russia after a 2009 law prohibited all other casino gambling. The region of Primorye borders China and Korea, while the casino is expected to be placed on the borders of Vladivostok.

‘a great deal of men and women don’t recognize 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 with all the Russian casino industry.

That prime location could be the key to getting severe names in to 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 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 into the enclave that is chinese. Now that numerous wor Read more

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Ugandan Students Miss College Graduation When They Gamble Away Tuition

Ugandan Students Miss College Graduation When They Gamble Away Tuition

Fifty-five business school students missed their own graduation after gambling away their tuition in Kampala, Uganda

Many schools and universities have codes of conduct that look down on students participating in gambling activities. Therefore even though the students of Makerere Business Institute (MBI) in Kampala, Uganda were probably encouraged to invest their funds, doing so by betting on sports was not more likely to win them many friends in the administration.

Students Gambled Away Tuition

A total of 55 students with MBI had been forced to miss out on graduation ceremonies once they reportedly spent funds including some that had been earmarked for their tuition on gambling and recreations betting. The announcement by school principal Nathan Twesigye influenced his comments at the school’s recent graduation ceremony.

Twesigye was especially surprised to find that the gambling issue apparently impacted a diverse range of students.

‘ As you can see, girls have also started gambling, which is quite strange,’ Twesigye said.

Gambling is quickly becoming big business in Uganda. That may surprise observers that are many Africa, but those more familiar with the country can understand just why. The populace of Uganda is young, enjoys sports, and at least in the capital city of Kampala benefits from being better educated and wealthier compared to generations before them.

Sports Betting Ops Targeting Stu Read more

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Galaxy Gaming CEO Reassures Shareholders After Regulatory Denial

Galaxy Gaming CEO Reassures Shareholders After Regulatory Denial

A Nevada-based casino table games developer, manufacturer and distributor is trying to reassure worried shareholders following the company’s California ‘suitability to do business’ liberties had been revoked by that state’s Gambling Control Commission recently.

Defending Page

Galaxy Gaming CEO Robert Saucier has sent a four-page missive to investors, claiming that all the presssing issues decried by the California regulators inside their decisions stemmed from a ‘predecessor entity that ceased business operation in 2009 and dissolved. The procedures did not directly involve Galaxy,’ Saucier went on, adding that ‘it is business as usual [at Galaxy ] as we continue to supply our products and solutions without any interruption.’

With Galaxy doing plenty of its business in the Golden State particularly with many Indian tribes who have gambling enterprises Saucier wanted to ensure clients and investors that Galaxy’s ‘gaming permit with California tribes is unchanged and in good standing. Likewise, our status in every other jurisdictions we serve is also unchanged and remains in good standing. In fact, we continue steadily to seek and get new licenses and approvals in additional jurisdictions,’ the letter went on to state.

Conflicting Tales

And this is where things have, um, a confusing that is little. Because while Saucier emphatically states in his letter that the California Gambling Control Commission don’t rule Read more

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