SJM Holdings would invest in Crimea

Casino magnate Stanley Ho seeks development at Crimea gaming zone.

Russia.- Stanley Ho, “The King of Gambling” in Macau is interested in developing Crimea’s gaming zone, where Russia plans to set an entertainment city for tourism. SJM Holdings and Summit Ascent Holdings president will invest with his son in the conflict zone.

“When it was clear that Crimea became part of Russia and the authorities intended to set up a gaming zone there, the interest in it increased,” revealed a private source to Russian privately-owned website. Previously, Chinese gaming businessman had shared their intentions to boost Crimea when it was part of Ukraine. Once the conflict began, the investors ended the negotiations with the Ukrainian government due to high geopolitical risks.

In August, Russia-backed Crimean head Sergei Aksenov announced that the peninsula was planning to build the gaming city in 2017.  The Crimean Finance Ministry intends to approve the procedure for issuing, renewing and revoking permits to operate in the gambling zone.