Japanese Casino Legislation On Target; Organized Crime Gets Shut Out It’s been years in the making, but Japan spurred on by the promise of this 2020 Tokyo Summer Olympic Games appears to be finally building a real push towards legalizing land gaming in the area country. Information reports from Reuters say a solid draft of a gambling policy has been put together, and Japan’s Diet (parliament) may be reviewing before 12 months’s end for early 2014 passage, Jesus willin’ and the crick don’t rise. Baby Procedures Towards Legalization At Last Even though that happens on routine, however, it would 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 objective, of course, being to possess everything up and prepared to roll in time for those all-important tourists to manage to drop some chunks of modification 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 sleep in the exact same bed together, and with an eye towards trying to stem that tide before the tsunami comes in, Japanese lawmakers are building some interesting safeguards to their casino regulations. These generally include creating an independent gambling regulator who does in turn oversee the license application process, as well as making it mandatory for any licensees to really have a decade’s worth minimum of their tax, banking and credit information on all their top-level executives available for review. And not just the execs that are actual but all of the executives’ loved ones will also be scrutinized, presumably so there is no-one to hide anything by putting it in a partner’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 case group, with the aim it not beholden to any particular Japanese ministry in its dealings for it being to make. That, in turn, is supposed to minimize the chance for graft or coercion by any of the mob that is japanese the so-called ‘Yakuza’ organized crime syndicates whom might try getting their arms into the casino cookie jar. In presenting the plan’s concepts, legislators said the idea that is overall to ensure ‘the hurdles to enter the company must be set high … With proper regulation and enforcement … there’s absolutely no reason for casinos to become hotbeds of unlawful activity.’ Also in the start-up regulatory proposal are demands limits become set on just how many gambling enterprises can be approved in the early stages, to make certain that regulations will be enforced and the general impact of these entities on the population at large can be assessed. And while the most obvious choices of major centers that are metropolitan as Tokyo and Osaka will likely be the very first locales for these brand new legal gambling enterprises, there are also provisions into the plans to ensure that some smaller urban centers could be taken into consideration for future tasks. Buyers and Sellers Dance the Dance with Atlantic City Casinos Everybody wants a piece of Atlantic City’s casinos these full days, it appears Ah, the Atlantic Club in Atlantic City: the girl that everybody wants to rest with, but nobody shall marry. This nj-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 produced an investment team utilizing The Flynn Company CEO Kevin Flynn of Philadelphia. Apparently, this estate that is real are eyeing all kinds of East Coast casinos, 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 say who is looking like they’ll certainly be getting a diamond just yet, he did inform the Press of Atlantic City their group hasn’t eliminated the Atlantic Club being a contender, but that they were ‘looking all over the spot’ for just the right spot to make their deal. The situation is made a bit more interesting in that both Miller and Flynn hold very 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 minor alliance could help the duo, as Caesars has four casinos in Atlantic City and may be willing to part with one. You might recall that Caesars’ international debt-load is sky-high, and some cash right now might be over welcomed as some of their notes 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 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 constantly 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, as well as Philly’s SugarHouse casino owners are said to be seeking to expand in to the Atlantic City market. British operators 2UP Gaming is also reported become enthusiastic 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 might wonder why a town whose casinos are doing so generally awful into the net earnings department will be so eagerly courted by a lot of these days, and the answer that is obvious both the interactive gaming potential (you can’t get an online operator’s license without getting a land casino) too as the seemingly vague potential for the legalization of sports betting in Atlantic City’s land casinos, which includes been shot down more times than an Iranian war air plane over the White home. Regardless, Miller claims his investment group is doing its due diligence about this market. The past few years, he claims he sees ‘a great deal of good regarding the horizon. despite Atlantic City’s crappy profit ledgers’ Caesars Entertainment Rearranges Deck Furniture for Debt Restructuring Caesars Entertainment is doing a lot of restructuring, but will it assist their economically ship that is sinking? Can this number of Titanic debt be salvaged from dragging the ship to the base of this ocean that is financial? That is the question being asked as Caesars Entertainment Corp. put Planet Hollywood one of their kingpin Las Vegas Strip properties right into a new company that is holding along side the Interactive Division and the still-being-built Horseshoe Casino Baltimore. The organization has instructed its shareholders they have only until Oct. 17th getting in on a stock fire sale to bring in $1.18 billion in much-needed cash infusions as well. And you also thought your garage sales were busy. Shareholders Can Purchase Stocks First The Securities and Exchange Commission (SEC) filing made by Caesars announces that shareholders can get first dibs on one share each of the brand new Caesars Acquisition Co. (CAC) for each share of this existing parent company they own. This restructuring has been into the works because this Spring that is past had been formally authorized 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 the company down’s massive current debt, but evidently, they have been studying the White home financials, because they state the raised funds will go towards new casino jobs in the U.S., as well as more online development, along with 888 Holdings, to acquire a few on-line casino sites up and rolling in New Jersey whenever that state goes online on November 26. They must be in a pissing competition 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 keeping the casino industry’s highest-ever debt that is long-term at $23.5 billion. In early 2014, they shall perform a refi of about $5 billion of that, and got about $200 million towards that amount in a stock sale 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 has gone into partnership aided by the company as well, as they attempt to get their $1 billion casino project accepted and built in Boston in Massachusetts’ Battle associated with the Casino Giants game. Seems even Caesars Deputy General Counsel Michael Cohen isn’t totally sure about this restructuring gameplan, however. ‘Compared to our money structure, that is not a big change,’ he told the Nevada Gaming Control Board about the business’s spinoff concept once they signed off on the plan in July. ‘Caesars possesses great deal of debt. We think it’s workable, but others disagree.