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Category Archives: Slots

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 the 2020 Tokyo Summer Olympic Games appears to be finally making a push that is real legalizing land gaming into 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 Steps Towards Legalization At Last Whether or not that occurs on schedule, however, it would take another two years for the legislators to drum up a more in-depth regulatory overview, which in turn would at long last open the road towards bonafide legal casinos to start being built. The objective, of course, being to own everything up and ready to roll over time for those all-important tourists to be able to drop some chunks of modification once they come to Japan for those summer games. As we’ve been ad that is seeing of late, corruption, crime and gambling appear to often rest into 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 a gambling that is independent who does in turn oversee the license application procedure, as well as making it mandatory for any licensees to enjoy a decade’s worth the least their tax, banking and credit informative data on each of their top-level executives designed for review. And not soleley the execs that are actual but all of the executives’ family members will 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 title. Oversight Group Will Be Cabinet-Level The regulatory body is going to be set as a de facto cabinet group, using the aim for it being to make it not beholden to any particular Japanese ministry in its dealings. That, in turn, is likely to minimize the chance for graft or coercion by some of the Japanese mob: the so-called ‘Yakuza’ organized crime syndicates whom might try to obtain their arms into the casino cookie jar. In presenting the plan’s concepts, legislators said the overall idea is to make sure ‘the hurdles to enter the business enterprise ought to 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 regulatory proposal are demands limits to be set on just how many gambling enterprises can be approved in the first stages, to make certain that laws will be enforced and the general impact among these entities regarding the population at large are assessed. And while the obvious choices of major centers that are metropolitan as Tokyo and Osaka will likely be the first locales for these brand new appropriate casinos, there are also provisions into the intends to ensure that some smaller towns and cities could additionally be taken into consideration for future tasks. Purchasers and Sellers Dance the Dance with Atlantic City gambling enterprises Everybody wants a bit 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 will 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 group utilizing The Flynn Company CEO Kevin Flynn of Philadelphia. Apparently, this real-estate duo 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 Simply One Contender While Miller won’t come right out and say who is looking like they’ll certainly be getting a diamond just yet, he did inform the Press of Atlantic City their team hasn’t eliminated the Atlantic Club as being a contender, but that they were ‘looking all over the place’ for just the right spot to make their deal. The situation is created 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 suggests that this minor alliance could assist the duo, as Caesars has four casinos in Atlantic City and may be prepared 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 now. A great amount of Inventory Up for Grabs It looks like it’s a sellers market these days, though; additionally in line to buy something in Atlantic City most likely to then get constantly in place to have a gaming that is interactive 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 reported to be trying to expand to the Atlantic City market. Uk operators 2UP video Gaming is also reported to be thinking about AC, backed evidently by an 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 could wonder why a town whose casinos are doing this generally awful into the net earnings division has been so eagerly courted by numerous these days, and the apparent answer is 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 casinos, which includes been shot down more times than an Iranian war air plane over the White home. Regardless, Miller claims their investment group is doing its diligence that is due about market. The previous few years, he states he views ‘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 lots of restructuring, but does it help their financially sinking ship? Can this amount of Titanic debt be salvaged from dragging the ship to your bottom of this monetary ocean? This is the question being asked as Caesars Entertainment Corp. put Planet Hollywood one of the kingpin Las vegas, nevada Strip properties in to a new holding company, along with the Interactive Division and the still-being-built Horseshoe Casino Baltimore. The company has instructed its shareholders they’ve only until Oct. 17th to have in for a stock fire sale to make $1.18 billion in much-needed cash infusions as well. And you 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 all of this new Caesars Acquisition Co. (CAC) for each share associated with the parent that is existing they own. This restructuring was within the works since this Spring that is past ended up being 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 straight down the organization’s massive existing debt, but apparently, they truly are studying the White House financials, because they state the raised funds will go towards new casino projects in the U.S., as well as more online development, in conjunction with 888 Holdings, to acquire a few on-line casino internet 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 achievable debt ceiling. Gambling’s Highest Debt Load Think we are joking? Caesars has the dubious honor of keeping the casino industry’s highest-ever long-term financial obligation load at $23.5 billion. In early 2014, they will do 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 seem to be 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 willing to start in 2015. And Suffolk Downs Racetrack in Boston went into partnership aided by the company since well, as they try to get their $1 billion casino project accepted and built in Boston in Massachusetts’ Battle associated with Casino Giants game. Seems even Caesars Deputy General Counsel Michael Cohen isn’t entirely sure about this restructuring gameplan, but. ‘Compared to our capital structure, that’s not a change that is big’ he told the Nevada Gaming Control Board about the organization’s spinoff concept if they signed down on the plan in July. ‘Caesars possesses lot of debt. We think it’s 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 of the 2020 Tokyo Summer Olympic Games appears to be finally making a push that is real legalizing land gaming into the island nation. Information reports from...

Caesars Gets A little Less Stocky with 11 Percent Price Drop

Caesars Gets A little Less Stocky with 11 Percent Price Drop In what’s shown to be its stock plummet that is biggest in nearly a year, Caesars Entertainment Corp’s offerings dropped by 11 percent on Tuesday, largely as a result of the trades neglecting to have rights to partake in...

Regional Culinary Union Berating Cosmopolitan Tourists in Vegas

Regional Culinary Union Berating Cosmopolitan Tourists in Vegas Several movies have been published on You Tube that show Las Vegas union that is culinary berating tourists (Image source: FOX News) UPDATE: October 25, 2013 After the release of these videos where Culinary Union Local 226 people were seen regularly throwing...

New York Federal Reserve $1 Billion Cyber Heist Thwarted by Spelling Error, While Casinos Allegedly Helped Funnel $81 Million

New York Federal Reserve $1 Billion Cyber Heist Thwarted by Spelling Error, While Casinos Allegedly Helped Funnel $81 Million It is quite unimaginable somebody could physically rob the latest York Federal Reserve as it’s one of the most secure buildings in the world, but cyber thieves were able to steal...

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