Monday, October 26, 2020
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500.com says no breach of foreign corrupt practices act

500 .com declares itself innocent

It has been ten months since the 500 Dot Com bribery case broke into public view, but the net of justice has yet to fall upon and to wring confessions out of those who are widely believed to be the most guilty.
500.com says no breach of foreign corrupt practices act

500.com says no breach of foreign corrupt practices act

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. 

500 .com advisors admit to bribery in Japan

Two former advisors of China’s 500 .com had admitted to seeking to bribe a Japanese lawmaker in connection with its search for a casino license, according to local media reports.

Oshidori confident of presenting most “exciting” Nagasaki bid

Oshidori said its confident its bid for a license in Nagasaki will be far “more exciting” than any other project and the termination of an accord with France’s Groupe Partouche won’t affect its chances.

Nagasaki gains a step on Wakayama

In recent weeks, Nagasaki may have gained a step on Wakayama, which is likely its main rival to secure an IR license.

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.

Melco swings to Q1 loss, remains committed to development plans

Melco Resorts & Entertainment swung to a loss in Q1 due to the impact of the coronavirus, but said it remains committed to its development plans, including a bid for a license in Japan.

LVS to dominate in Asia for the next five years

Las Vegas Sands and its Sands China unit are likely to dominate the market in Singapore and Macau for the next five years, according to a report from Bernstein.
Japan, Yokohama (generic)

Yokohama establishes IR Promotion Office

The Yokohama municipal government is establishing a new “IR Promotion Office” to guide its policies into the more active phase of IR development.
Yumeshima

Osaka might rent, not sell, Yumeshima land

Osaka Mayor Ichiro Matsui is leaning toward a policy that would see the 49 hectares of land utilized for IR development at Yumeshima rented to the operator.

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