Wynn President and CEO Matthew Maddox has reaffirmed his company’s keen desire to gain an IR license in Japan.
“We have been quietly active in Japan for a number of years now,” Maddox was quoted as saying, “I’ve been dozens of times myself, building strong relationships in a country where trust and relationships matter,” he said on a conference call after releasing Q2 results.
He added, “We believe that the Wynn aesthetic and our unrelenting focus on excellence and our commitment to thoughtful, immersive entertainment will resonate well in Japan, and we look forward to competing there.”
In his June interview with Asia Gaming Brief, Chris Gordon, president of Wynn Resorts Development, who has been leading the company’s Japan effort, suggested that Wynn’s campaign would “pick up significantly” in the wake of the passage of the IR Implementation Act.
Macau’s VIP gaming sector is undergoing a cash crunch as customers withdraw billions of dollars in deposits due to concern about Beijing’s crackdown on capital flows for gambling purposes, Reuters reports.
Online lottery company 500.com said a special investigative committee (SIC) established to probe its role into an alleged bribery scandal in Japan found that there had been no violation of the Foreign Corrupt Practices Act.