Japanese Casino Legislation On Target; Organized Crime Gets Shut Out It’s been decades in the making, but Japan spurred on by the promise associated with the 2020 Tokyo Summer Olympic Games appears to be finally making a real push towards legalizing land gaming in the area nation. Information reports from Reuters state 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 very early 2014 passage, Jesus willin’ and the crick don’t rise. Baby Steps Towards Legalization At Last Even though that takes place on routine, however, it might take another two years for the legislators to drum up a more in-depth overview that is regulatory which in turn would at long last open the road towards bonafide legal casinos to start being built. The objective, of course, being to have everything up and prepared to roll in time for those tourists that are all-important be able to drop some chunks of change if they come to Japan for those summer games. As we have been seeing advertisement nauseum of late, corruption, crime and gambling appear to often sleep within 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 into their casino regulations. These include producing a gambling that is independent who does in turn oversee the license application procedure, since well as making it mandatory for any licensees to have a decade’s worth minimum of their tax, banking and credit home elevators each of their top-level executives available for review. And not just the actual execs, but all of the executives’ relatives may also be scrutinized, presumably so no-one can 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 expected to minimize the likelihood for graft or coercion by some of the mob that is japanese the so-called ‘Yakuza’ organized crime syndicates who might try to get their fingers into the casino cookie jar. In presenting the plan’s concepts, legislators said the overall idea is to make sure ‘the hurdles to enter business must certanly be set high … With proper regulation and enforcement … there is absolutely no reason for casinos to become hotbeds of unlawful activity.’ Also in the start-up proposal that is regulatory calls for limits become set on exactly how many casinos can be approved within the early stages, to make certain that regulations will be enforced and the general impact of these entities on the populace at big can be assessed. And while the most obvious choices of major metropolitan centers such as Tokyo and Osaka will most likely be the first locales for these brand new legal gambling enterprises, there are also provisions within the intends to make sure that some smaller metropolitan areas could also be taken into consideration for future tasks. Purchasers 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 sleep with, but no one shall marry. This nj-new Jersey land gaming joint keeps on finding brand new suitors, however, and now an one that is new popped through to the horizon: a local attorney-slash-entrepreneur, George Miller, who’s created an investment group with The Flynn Company CEO Kevin Flynn of Philadelphia. Apparently, this real estate duo are eyeing all forms of East Coast casinos, with the target 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 out and say who is searching like they will be getting a diamond just yet, he did inform the Press of Atlantic City his 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 caesars-run pennsylvania property; albeit merely a 0.25% stake each. Press of Atlantic City interviewer Donald Wittkowski suggests that this minor alliance could 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 a number of their notes are coming due in 2015. Rumors are that possibly Trump Plaza, Golden Nugget and Revel along side Caesars’ Showboat might all be getting sexy glances from Miller and Flynn now. Lots of Inventory Up for Grabs It looks like it is a sellers market these days, though; also in line to buy something in Atlantic City likely to then get in position to obtain a gaming that is interactive for AC’s imminent Internet launch are clothes like PokerStars, possibly Kentucky’s Churchill Downs horse racing operation, and even Philly’s SugarHouse casino owners are said to be looking to expand in to the Atlantic City market. British operators 2UP video Gaming is also reported become interested in AC, backed apparently by an unnamed Asian mogul. One of the properties letting it be known they could be available for the right price are the now-infamous Atlantic Club, 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 your low-ball offer), along with the Golden Nugget and poor ol’ Revel, which simply can not seem to stand up, it’s therefore debt-heavy during the top. Needless to say, you may wonder why a town whose casinos are doing this generally awful in the web profits division has been so eagerly courted by so many these days, and the answer that is obvious both the interactive gaming potential (you can’t obtain an online operator’s license without owning a land casino) too 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 air plane over the White House. Regardless, Miller claims their investment group is doing its due diligence about it market. Despite Atlantic City’s crappy profit ledgers the previous couple of years, he states he sees ‘a lot of good on the horizon.’ Caesars Entertainment Rearranges Deck Furniture for Debt Restructuring Caesars Entertainment is doing plenty of restructuring, but can it help their economically ship that is sinking? Can this number of Titanic debt be salvaged from dragging the ship to the bottom regarding the ocean that is financial? This is the question being asked as Caesars Entertainment Corp. put Planet Hollywood one of the kingpin Las vegas, nevada Strip properties into a new company that is holding along with the Interactive Division and the still-being-built Horseshoe Casino Baltimore. The organization has instructed its shareholders they’ve only until Oct. seventeenth to obtain in on a stock fire sale to make $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 are certain to get very first dibs on one share all of the brand new Caesars Acquisition Co. (CAC) for every share associated with the existing parent company they own. This restructuring happens to be in the works because this past Spring, and ended up being officially 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 company’s massive existing debt, but apparently, they have been studying the White House financials, because they say the raised funds will go towards brand new casino projects in the U.S., as well as more online development, along with 888 Holdings, to acquire a few online casino web 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 highest debt ceiling that is achievable. Gambling’s Highest Debt Load Think we are 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 will perform a refi of about $5 billion of that, and got about $200 million towards that amount in a stock sale already. This debtload that is somewhat scaryn’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 operate the $400 million Horseshoe Baltimore once it’s completed and prepared to start in 2015. And Suffolk Downs Racetrack in Boston moved into partnership because of the ongoing company since well, as they attempt to manage to get thier $1 billion casino project accepted and built in Boston in Massachusetts’ Battle for the Casino Giants game. Tends even Caesars Deputy General Counsel Michael Cohen isn’t totally sure about this restructuring gameplan, nevertheless. ‘Compared to our capital structure, that isn’t a big change,’ he told the Nevada Gaming Control Board about the organization’s spinoff concept when they signed off on the plan in July. ‘Caesars has a great deal of debt. We think it is manageable, but others disagree.