Thursday, July 2, 2020

Japan

Looking Ahead to Local Elections

The enduring unpopularity of IR developments among the Japanese public, as well as the much weaker position of the Shinzo Abe government in comparison to earlier phases, means that local elections may still prove decisive as to whether or not bids will go forward.

State of emergency to be lifted on Osaka, Kyoto and Hyogo

Japanese Prime Minister Shinzo Abe is set to make a decision on whether to lift a state of emergency on Osaka, Kyoto, and Hyogo...

Sands’ withdrawal a vote of “no confidence” in Japanese policymakers

In an earnings conference call in April 2019, Las Vegas Sands President and Chief Operating Officer Robert Goldstein declared, “Our commitment to Japan is immense. It will be lots and lots of rooms—many, many rooms. There will be lots of retail. There will be lots of MICE, far beyond what people understand we're thinking about for Japan… We are deep into it. We're committed to it. We have a team on the ground there.

Suncity and Clairvest qualify for Wakayama RFP

The Wakayama Prefectural Government announced on Thursday that both the Suncity Group and the Clairvest Group have qualified to participate in its RFP process. The...

Japan lifts state of emergency for most of the country

Prime Minister Shinzo Abe announced on Thursday evening that the Covid-19 state of emergency has been lifted for 39 of Japan’s 47 prefectures. However, the...

Sega Sammy profits soar in FY2019

Sega Sammy Holdings’ financial report issued on Wednesday showed the firm recording rising sales and soaring profits. Net sales for the year ending March 31...

Las Vegas Sands pulls out of Japan IR race

Las Vegas Sands unexpectedly announced today that it would be giving up its bid to build a major urban IR, thus removing a contender...

Fitch sees 70% Q2 revenue drop for Okada, downgrades Universal

Fitch Ratings has downgraded Universal Entertainment’s credit rating due to the impact of the coronavirus on the gaming industry and said it expects the group’s Okada Manila property to post a 70 percent drop in Q2 revenue.

Wakayama illustrates need for IR bid delay

The word came down this week and the news was neither expected nor was it positive. Only one prospective IR operator, the Suncity Group, filed a complete application for a bid to partner with the Wakayama Prefectural Government on developing the Marina City location.

Clairvest aims to “quarterback” IR bid in Wakayama

When the Wakayama Prefectural Government announced the participants in its RFP process, there were surprisingly only two company names on the list—Suncity Group and...

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