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Japan

China’s Qihoo has bought a 2.56 percent stake in mobile-game developer KLab  for $5.79 million and the two companies plan to work together to develop games for the China market.

A panel of lawmakers from Japan’s ruling Liberal Democratic Party has approved a bill legalizing casinos in the country, paving the way for the legislation to be possibly put before parliament before the current session ends on Dec. 6th.

Lawmaker Natsuo Yamaguchi, the leader of Japan’s New Komeito party, told Bloomberg in an interview that a bill to legalize casinos may not be put forward in the current session of parliament because of differences among allies in the ruling coalition. “I don’t necessarily think we will reach consensus on submitting the bill to the current session and moving forward with it in the limited time we have,” he said. A cross-party group of lawmakers had said it was preparing to submit the casino legalization bill to parliament in the current session, ending on Dec. 6.

Mitsui Fudosan Co, Japan’s biggest property developer, is teaming up with media firm Fuji Media Holdings and builder Kajima Corp. to develop a proposed casino and resort complex in Tokyo, local media reported, citing comments made at an earnings briefing. The project would involve a hotel, conference centre and casino in Odaiba, near Tokyo Bay.

Sega Sammy said revenue in the six months through September gained  51 percent to 162.2 billion yen ($1.64 billion), boosted by a 31 percent gain in its pachinko and pachislot business. The pachislot sector earned 71.2 billion yen. Amusement machine sales fell 4 percent, while revenue from amusement center operations gained just 1 percent. The company now expects its full-year pachinko sales to gain 90 percent to 270 billion yen.

Melco Crown Chief Executive Lawrence Ho says the company is fielding enquiries from major companies about partnering on potential projects in Japan, ahead of a vote on legalizing casinos in the country. "This is the closest Japan has ever gotten to liberalizing gaming markets,” he said after the release of the company’s results.  

The world’s biggest casino companies, including Las Vegas Sands, MGM Resorts International, Caesars Entertainment, SJM Holdings and Melco Crown have all begun scouting for potential sites in Japan as lawmakers mull passing a bill to legalize gambling resorts, Bloomberg reported. Most are also considering hooking up with local partners, with MGM preparing to team up with a consortium of Japan-based companies to help prepare any possible bid.

A Tokyo court has dismissed a defamation suit from Japanese billionaire Kazuo Okada that sought $114 million in damages from Wynn Resorts, Steve Wynn and other executives. The court found that the case, which was filed in August last year, should not be heard by a Japanese tribunal. Okada accused Wynn of defamation over comments alleging business misconduct in South Korea and the Philippines.

 

Japan’s Year-End Jumbo Lottery will pay out a record 700 million yen ($7.1 million) to the first prize winner if that person also purchased a block of tickets including the numbers immediately before and after the winning ticket. The first prize has risen from 400 million to 500 million, with 100 million each for the adjacent tickets. 

SoftBank Corp is buying a 51 percent stake in Finnish mobile game maker Supercell for $1.53 billion. The company makes games such as “Clash of Clans” and “Hay Day.” 

The purchase price values the whole business at $3 billion. Twenty percent of Softbank's investment will come from its mobile games maker subsidiary, GungHo Online Entertainment Inc.

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