Japanese Casino Legislation On Target; Organized Crime Gets Shut Out It’s been years in the making, but Japan spurred on by the promise associated with 2020 Tokyo Summer Olympic Games appears to be finally creating a real push towards legalizing land gaming in the island nation. Information reports from Reuters state a draft that is solid of gambling policy has been put together, and Japan’s Diet (parliament) may be reviewing before 12 months’s end for very early 2014 passage, God willin’ and the crick don’t rise. Baby Procedures Towards Legalization At Last Even though that takes place on routine, however, it could take another two years for the legislators to drum up a more in-depth regulatory overview, which often would at long last open the road towards bonafide legal casinos to start being built. The goal, of course, being to have everything up and ready to roll in time for those all-important tourists to have the ability to drop some chunks of modification when they come to Japan for those summer games. As we’ve been seeing advertisement nauseum of late, corruption, crime and gambling seem to often sleep within the exact same sleep together, and with an eye towards trying to stem that tide before the tsunami comes in, Japanese lawmakers are building some interesting safeguards in their casino regulations. These include creating an independent gambling regulator who would in change oversee the license application procedure, as well as making it mandatory for any licensees to have a decade’s worth the least their tax, banking and credit info on all their top-level executives readily available for review. And not just the actual execs, but most of the executives’ family may also be scrutinized, presumably so no-one can hide anything by putting it in a spouse’s or sibling’s or son’s or daughter’s name. Oversight Group Will Be Cabinet-Level The regulatory body is going to be set as a de facto cabinet group, using the aim it not beholden to any particular Japanese ministry in its dealings for it being to make. That, in turn, is expected to minimize the possibility for graft or coercion by any of the mob that is japanese the so-called ‘Yakuza’ organized crime syndicates who might try to get their hands into the casino cookie jar. In presenting the plan’s principles, legislators said the overall idea is to make sure ‘the hurdles to enter the company is set high … With proper regulation and enforcement … there is absolutely no reason for gambling enterprises to become hotbeds of criminal activity.’ Also in the start-up regulatory proposal are demands limits become set on how many casinos can be approved in the first stages, to make sure that laws will be enforced and the general impact of the entities regarding the populace at large could be assessed. And while the most obvious choices of major centers that are metropolitan as Tokyo and Osaka will in all probability be the first locales for these new legal casinos, there are also provisions within the plans to make sure that some smaller towns and cities could also be taken into consideration for future projects. Buyers and Sellers Dance the Dance with Atlantic City Casinos Everybody wants a piece of Atlantic City’s casinos these full days, this indicates Ah, the Atlantic Club in Atlantic City: your ex that everybody wants to sleep with, but no one shall marry. This New Jersey land gaming joint keeps on finding brand new suitors, however, and now a new one has popped up on the horizon: a local attorney-slash-entrepreneur, George Miller, who’s created an investment team with all The Flynn Company CEO Kevin Flynn of Philadelphia. Apparently, this real estate duo are eyeing all forms of East Coast gambling enterprises, with the goal of firming something up before New Year’s 2014 strikes midnight in the clock. Atlantic Club Just One Contender While Miller won’t come right away and state who is searching like are going to getting a diamond just yet, he did inform the Press of Atlantic City their group hasn’t eliminated the Atlantic Club as being a contender, but that they were ‘looking all over the area’ for just the right spot to make their deal. The situation is made a bit more interesting in that both Miller and Flynn hold extremely small stakes in A pennsylvania that is caesars-run property albeit only a 0.25% stake each. Press of Atlantic City interviewer Donald Wittkowski shows that this alliance that is minor help the duo, as Caesars has four casinos in Atlantic City and could be willing to part with one. You might recall that Caesars’ international debt-load is sky-high, and some cash right now might be more than welcomed as some of their records are coming due in 2015. Rumors are that possibly Trump Plaza, Golden Nugget and Revel along with Caesars’ Showboat might all be getting sexy glances from Miller and Flynn at this time. Lots of Inventory Up for Grabs It looks like it’s a sellers market these times, however; additionally in line to buy something in Atlantic City almost certainly to then get in position to have an interactive gaming license for AC’s imminent Internet launch are outfits like PokerStars, possibly Kentucky’s Churchill Downs horse racing operation, and also Philly’s SugarHouse casino owners are said to be trying to expand to the Atlantic City market. Uk operators 2UP Gaming is also reported become thinking about AC, backed evidently by the unnamed Asian mogul. The Plaza (which killed a potential deal with the West Coast’s Meruelo Group for $20 million when the casino’s main mortgage holder Carl Icahn said ‘I don’t think so’ to the low-ball offer), as well as the Golden Nugget and poor ol’ Revel, which just can’t seem to stand up, it’s so debt-heavy at the top among the properties letting it be known they could be available for the right price are the now-infamous Atlantic Club. Needless to say, you may wonder why a town whose casinos are doing this generally speaking awful in the net earnings department will be therefore eagerly courted by a lot of these days, and the answer that is obvious both the interactive gaming potential (you can’t obtain an online operator’s license without possessing a land casino) also as the seemingly vague potential for the legalization of sports betting in Atlantic City’s land casinos, which has been shot down more times than an Iranian war plane over the White House. Regardless, Miller claims their investment group is doing its diligence that is due about market. Despite Atlantic City’s crappy revenue ledgers the previous couple of years, he states he views ‘a lot of good on the horizon.’ Caesars Entertainment Rearranges Deck Furniture for Debt Restructuring Caesars Entertainment is doing a lot of restructuring, but can it assist their financially sinking ship? Can this quantity of Titanic debt be salvaged from dragging the ship to your bottom regarding the ocean that is financial? That’s the question being asked as Caesars Entertainment Corp. put Planet Hollywood one of the kingpin Las Vegas Strip properties as a new holding company, along side the Interactive Division and the still-being-built Horseshoe Casino Baltimore. The business has instructed its shareholders they have only until Oct. seventeenth to obtain in on a stock fire sale to generate $1.18 billion in much-needed money infusions as well. And you thought your garage sales were busy. Shareholders Can Buy Stocks First The Securities and Exchange Commission (SEC) filing created by Caesars announces that shareholders will get very first dibs on one share all of this new Caesars Acquisition Co. (CAC) for every single share for the existing parent company they own. This restructuring is within the works because this Spring that is past was officially authorized by the Nevada Gaming Control Board in July. Underneath the restructuring, the newly created CAC will be a partial owner of the additionally newly created Caesars Growth Partners, and along with Caesars Entertainment (are you dizzy yet?), the brand new entity will have Planet Hollywood, the Baltimore under-construction property, and Caesars Interactive Entertainment, which, of program, spearheads the World Series of Poker (WSOP) real cash online poker brand that just lately launched for Nevada Internet players. Now you might think the idea of all this fundraising is to pay down the company’s massive current debt, but evidently, they’ve been studying the White home financials, because they say the raised funds will go towards brand new casino tasks in the U.S., in addition to more online development, along with 888 Holdings, to obtain a few online casino web sites up and rolling in New Jersey when that state goes online on November 26. They must be in a pissing contest with Obama for the greatest debt ceiling that is achievable. Gambling’s Highest Debt Load Think we’re kidding? Caesars has the dubious honor of holding the casino industry’s highest-ever long-term debt load at $23.5 billion. In early 2014, they shall do a refi of about $5 billion of that, and got about $200 million towards that amount in a stock sale already. This somewhat frightening debtload doesn’t be seemingly deterring anybody from teaming up with the gaming behemoth though; Detroit-based Rock Gaming is in on a joint venture with Caesars to own and operate the $400 million Horseshoe Baltimore once it’s completed and willing to open in 2015. And Suffolk Downs Racetrack in Boston has gone into partnership with all the ongoing business as well, as they attempt to get their $1 billion casino project accepted and built in Boston in Massachusetts’ Battle regarding the Casino Giants game. Tends even Caesars Deputy General Counsel Michael Cohen isn’t completely sure about this restructuring gameplan, nonetheless. ‘Compared to our capital structure, that is not a change that is big’ he told the Nevada Gaming Control Board about the business’s spinoff concept when they signed off on the plan in July. ‘Caesars includes a great deal of debt. We think it is manageable, but others disagree.

Japanese Casino Legislation On Target; Organized Crime Gets Shut Out< It's been years in the making, but Japan spurred on by the promise associated with 2020 Tokyo Summer Olympic [...]