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Japanese Casino Legislation On Target; Organized Crime Gets Shut Out It’s been decades in the making, but Japan spurred on by the promise regarding the 2020 Tokyo Summer Olympic Games appears to be finally making a real push towards legalizing land gaming in the island country. News reports from Reuters state a solid draft of a gambling policy has been put together, and Japan’s Diet (parliament) may be reviewing before year’s end for very early 2014 passage, Jesus willin’ and the crick don’t rise. Baby Procedures Towards Legalization At Last Even if that occurs on schedule, however, it could take another two years for the legislators to drum up a more in-depth overview that is regulatory 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 prepared to move over time for those all-important tourists to have the ability to drop some chunks of change when they come to Japan for those summer games. As we have been ad that is seeing of late, corruption, crime and gambling appear to often rest into the 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. Included in these are creating an independent gambling regulator who does in change oversee the license application process, since well as making it mandatory for any licensees to enjoy a decade’s worth the least their tax, banking and credit home elevators each of their top-level executives readily available for review. And not soleley the execs that are actual but most of the executives’ family is likewise scrutinized, presumably so there is no-one to 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 will probably be set as a de facto cabinet group, with the aim because of it being making it not beholden to any specific Japanese ministry in its transactions. That, in turn, is supposed to minimize the likelihood for graft or coercion by any of the Japanese mob: the so-called ‘Yakuza’ organized crime syndicates who might try getting their hands into the casino cookie jar. In presenting the plan’s principles, legislators said the idea that is overall to make sure ‘the hurdles to enter the business enterprise should really be set high … With proper regulation and enforcement … there is absolutely no reason for casinos to become hotbeds of criminal activity.’ Also in the start-up proposal that is regulatory calls for limits become set on just how many casinos can be approved into the early stages, to make sure that regulations will be enforced and the general impact of those entities on the population at big may be assessed. And while the most obvious choices of major metropolitan centers such as Tokyo and Osaka will in all probability be the first locales for these new appropriate casinos, there are also provisions in the intends to ensure that some smaller metropolitan areas could be taken into consideration for future projects. Purchasers and Sellers Dance the Dance with Atlantic City gambling enterprises Everybody wants an item of Atlantic City’s casinos these full days, it seems 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 brand new one has popped up on the horizon: a local attorney-slash-entrepreneur, George Miller, who’s developed an investment team utilizing The Flynn Company CEO Kevin Flynn of Philadelphia. Apparently, this property duo are eyeing all types of East Coast gambling enterprises, with the goal of firming something up before New 12 months’s 2014 strikes midnight regarding the clock. Atlantic Club Simply One Contender While Miller won’t come right away and say who is searching like are going to getting a diamond just yet, he did inform the Press of Atlantic City their team hasn’t eliminated the Atlantic Club being a contender, but that they were ‘looking all over the place’ for just the spot that is right make their deal. The situation is manufactured a bit more interesting for the reason that both Miller and Flynn hold really small stakes in A pennsylvania that is caesars-run property albeit merely a 0.25% stake each. Press of Atlantic City interviewer Donald Wittkowski implies that this alliance that is minor assist the duo, as Caesars has four casinos in Atlantic City and could be prepared to part with one. You may recall that Caesars’ international debt-load is sky-high, and some cash right now might be a lot more than welcomed as a few 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 glances that are sexy Miller and Flynn right now. A great amount of Inventory Shared It looks like it’s a sellers market these days, however; additionally in line to buy something in Atlantic City likely to then get in place to have an interactive video gaming license for AC’s imminent Internet launch are clothes like PokerStars, possibly Kentucky’s Churchill Downs horse racing operation, and also Philly’s SugarHouse casino owners are said to be looking to expand to the Atlantic City market. British operators 2UP video Gaming is also reported become thinking about AC, backed apparently by the unnamed mogul that is asian. 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. Of course, you may wonder why a town whose casinos are doing this generally speaking awful within the net profits department has been therefore eagerly courted by countless these days, and the answer that is obvious both the interactive gaming potential (you can’t get an online operator’s license without having a land casino) also as the seemingly vague potential for the legalization of sports betting in Atlantic City’s land gambling enterprises, which has been shot down more times than an Iranian war air plane over the White House. Regardless, Miller claims their investment group is doing its due diligence about it market. The previous few years, he says he views ‘a lot of good in the horizon. despite Atlantic City’s crappy profit ledgers’ Caesars Entertainment Rearranges Deck Furniture for Debt Restructuring Caesars Entertainment is doing lots of restructuring, but can it help their economically ship that is sinking? Can this level 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 their kingpin Las Vegas Strip properties into a new company that is holding along side the Interactive Division and the still-being-built Horseshoe Casino Baltimore. The company has instructed its shareholders they’ve only until Oct. seventeenth getting in for a stock fire sale to make $1.18 billion in much-needed money infusions as well. And you thought your storage sales were busy. Shareholders Should Buy Stocks First The Securities and Exchange Commission (SEC) filing made by Caesars announces that shareholders will get very first dibs on one share all of the newest Caesars Acquisition Co. (CAC) for every share of this parent that is existing they own. This restructuring is into the works since this past Spring, and was formally approved by the Nevada Gaming Control Board in July. The newly formed CAC will be a partial owner of the also newly created Caesars Growth Partners, and along with Caesars Entertainment (are you dizzy yet?), the new entity will own Planet Hollywood, the Baltimore under-construction property, and Caesars Interactive Entertainment, which, of course, spearheads the World Series of Poker (WSOP) real money online poker brand that just recently launched for Nevada Internet players under the restructuring. Now you might think the idea of all this fundraising is to pay straight down the organization’s massive existing debt, but apparently, they’ve been studying the White House financials, because they say the raised funds will go towards new casino tasks in the U.S., as well as more online development, in conjunction with 888 Holdings, to acquire a few online casino sites up and rolling in New Jersey whenever 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 are joking? Caesars has the dubious honor of holding the casino industry’s highest-ever debt that is long-term 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 purchase already. This somewhat scary debtload doesn’t be seemingly deterring anyone from teaming up with the gaming behemoth though; Detroit-based Rock Gaming is in on a joint venture with Caesars to own and run the $400 million Horseshoe Baltimore once it’s completed and willing to open in 2015. And Suffolk Downs Racetrack in Boston went into partnership with the company because well, as they you will need to manage to get thier $1 billion casino project accepted and built in Boston in Massachusetts’ Battle of the Casino Giants game. Seems even Caesars Deputy General Counsel Michael Cohen isn’t totally sure about this restructuring gameplan, nonetheless. ‘Compared to our capital structure, that isn’t a big change,’ he told the Nevada Gaming Control Board about the business’s spinoff concept when they signed down on the plan in July. ‘Caesars features a complete lot of debt. We think it is workable, but others disagree.