Casino tycoon Lawrence Ho set to manage casino resort in Russia

In a significant development, renowned businessman Lawrence Ho, son of gambling magnate Stanley Ho, is set to expand the family business into the Russian market. According to a report by The Wall Street Journal, Lawrence Ho is involved in a deal to invest in a gaming and resort project located in the outskirts of Vladivostok, Russia.

The agreement for this investment was filed in the Hong Kong Stock Exchange on June 28th. The document indicates an agreement was signed for investment in a "gaming and resort development project in the Russian Federation". The Wall Street Journal reported this information, citing a source with inside knowledge of the deal.

Lawrence Ho, who is the CEO of Macau-based Melco Crown Entertainment, plans to establish a casino resort in Vladivostok, Russia. The specifics of the project are yet to be disclosed, but it is clear that the Ho family's expansion plans involve the gaming and resort sector.

The company that Lawrence Ho registered on the Hong Kong Stock Exchange and is involved in the casino resort project is Melco Resorts & Entertainment. The source of the news about the investment deal is The Wall Street Journal.

This marks a significant step for the Ho family, who are looking to expand their business beyond their current operations. The investment will be a significant move for the Russian gaming and resort sector, as it brings in a well-established player in the industry.

As the details of the project unfold, it will be interesting to see how the Ho family's expansion plans in the Russian Federation will shape the gaming and resort sector in the region. Stay tuned for more updates on this developing story.