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Lawrence Ho Plans Casino In Russia: WSJ Says

Lawrence Ho, the co-chairman of Macau casino operator Melco Crown Entertainment Ltd., is planning a gambling resort on the outskirts of Vladivostok in Russia, the Wall Street Journal reported, citing a person familiar with the deal.

Summit Ascent Holdings Ltd., a Hong Kong-based company that is 37 percent owned by Ho, signed a preliminary agreement to invest in a “gaming and resort development project in the Russian Federation,” according to the company’s June 28 filing to the Hong Kong Stock Exchange.