Yokohama mayoral contender votes no casino

Kazuyoshi Nagashima, a former mayor of a small city and one-term House of Representatives lawmaker, is at present the only openly declared candidate for the July 30 election to become Mayor of Yokohama. His main campaign slogan is a succinct two words: NO CASINO!!! Last year, incumbent Yokohama Mayor Fumiko Hayashi had repeatedly described locating an IR in the Minato Mirai district of her city as being “a powerful means of securing tax revenue” and even as “necessary for the sustainable development of Yokohama.” But within a couple of weeks of Nagashima announcing his candidacy in mid-January under the anti-casino banner, Mayor Hayashi changed her tune. She stated in a January 25 press conference that it would be “considerably difficult to make concrete moves” toward hosting an IR and declared that “it’s very important to have a policy to combat addiction; we need to examine this issue as the city...

Intelligence Articles is a premium content section developed for AGB members only featuring in-depth articles on relevant items of interest across the multiple Asia Pacific Gaming jurisdictions. To continue reading, subscribe now.
SHARE
Previous articleU.K. VIP business struggles on stringent AML
Next articleMaking sense of table data

Related Articles

Yumeshima

Delays and doubts over Yumeshima transport infrastructure

If the IR policy delays have created a threat to Yokohama’s plans that are primarily political, the deepest concerns for Osaka arguably relate to its effect on transportation infrastructure to the man-made island of Yumeshima.

MGM Q3 results fall below expectations

MGM Resorts’ third quarter results revealed a net loss widening to US$534.7 million, a figure that was worse than what some analysts had predicted. MGM China reported an Adjusted EBITDA loss of HK$730.6 million (US$94 million) during the same period. Bill Hornbuckle, CEO of MGM Resorts International, stated, “We remain focused on responding to the […]

MGM ranks 107 in world’s best employers list

MGM Resorts International (NYSE: MGM) was ranked No. 107 on Forbes' list of 750 World's Best Employers for 2020, the only company on the Las Vegas Strip to make the list.

MGM Resorts upsizes notes offering to US$750 million

MGM Resorts said it has upsized a public note offering from $500 million to $750 million and will use the proceeds to refinance existing debt and for general corporate purposes.

MGM to lay off 18,000 furloughed workers

MGM Resorts began laying off 18,000 furloughed workers on Monday as the impact of the pandemic drags on.

The Osaka Yumeshima IR loses its inevitability

A year ago there were many things uncertain about IR development in Japan, but if there was one thing you could depend upon—one prediction that could be made with near total confidence—it was that the man-made island of Yumeshima in Osaka Bay was destined to become host to one of the biggest and grandest IRs in the world. 
Yumeshima

MGM not committed to Osaka IR investment

In an earnings conference call held at the end of last week, MGM President and CEO Bill Hornbuckle revealed that his firm was not committed to moving forward with its multi-billion dollar IR investment at Yumeshima, Osaka. “There are a great deal of things to be worked out there,” Hornbuckle stated, “and we’ll only make […]

MGM reports US$1 billion in operating losses for Q2

MGM Resorts International has reported a combined US$1 billion for the quarter ending on June 30 on the back of a 91 percent fall in net revenues. The company statement explained that these losses were “driven by the temporary suspension of the company’s domestic casino operations, continued travel restrictions in Macau, restrictions on the number […]

Hornbuckle confirmed as MGM International president and CEO

MGM International has announced that William Hornbuckle has become the firm’s new president and CEO, effective immediately. He had previously been holding these offices in an acting capacity since March. Hornbuckle succeeds Jim Murren, who first indicated his intention to step down before the expiry of his contract in February. Chairman Paul Salem, who also […]

MGM online unit raises $250m

Roar Digital, a U.S. sports betting and online gaming company, said its shareholders, MGM Resorts and GVC have committed to a second round of investment, bringing the total to $450 million.