According to "Voice of Economy", Stanley Ho's son Lawrence Ho, a Macau Casino Mogul, is going to open a casino in the outskirts of Vladivostok in Russia. The casino is scheduled to open in the second half of next year.

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Right after the news was released, it caused a heated discussion. Many people are very optimistic about the prospects for the investment. There are two reasons. Firstly, for people in northern China, Vladivostok is closer than Macau. A flight from Beijing to the Russian city only takes two and a half hours. Harbin, the largest city in China's Heilongjiang province, is less than an hour and twenty minutes from Vladivostok by plane.

Secondly, Russia has a low tax rate. According to a report from US last year, from 2020 to 2029, the gambling revenue will reach $5.2 billion in the outskirts of Russia. But the total income tax accounts for only 3 percent to 7 percent of the gross income, which is much lower comparing with 39 percent in Macau.

Macau is the only legitimate gambling area in China. Macau, together with Monte Carlo in Monaco, Las Vegas and Atlantic City in the United States, are called the top four famous casinos in the world. Gambling is the leading industry in Macau. The annual gambling revenue is up to $ 38 billion, which is six times that of the Las Vegas Strip.

As for Lawrence Ho's father Stanley Ho, he monopolized gambling in Macau until the government opened the territory to international operators more than a decade ago. He has been nicknamed "The King of Gambling". Now, Stanley Ho is the general manager of Macao tourism and Entertainment Company. He controls HK$500 billion in assets, and he owns a net worth of HK$70 billion himself.