[Mulboyne]

A non-partisan group of around 70 diet members have formed a group hoping to push for a change in legislation this autumn. They are proposing Odaiba,as potential sites Tokyo & Okinawa although Hokkaido is also mentioned. The focus is again on promoting tourism.

Source (Japanese)

[Mulboyne]

Kyoto has also officially thrown its hat into the ring for a casino exclusive to foreign visitors.

Source (Japanese)

[Mulboyne]

[gaijinpunch]

Makes too much sense. Will never happen.

[Mulboyne]

AP: Wynn Resorts buys out biggest stakeholder Okada, asks him to resign after payments probe

Wynn Resorts Ltd. said Sunday that it forcibly bought back all the shares controlled by its biggest stakeholder Kazuo Okada and asked the Japanese tycoon to resign from the board after finding he made improper payments to overseas gambling regulators. The Las Vegas casino operator said it took action against Okada after a year-long investigation uncovered that he engaged in activities that violated U.S. anti-corruption law.

The announcement marks the latest deterioration of Okada's relationship with Stephen Wynn, founder of Wynn Resorts and a one-time ally. Okada is the founder of casino game maker Universal Entertainment Corp., which held an almost 20 per cent stake in Wynn Resorts through its privately held subsidiary Aruze USA Inc. Aruze's 24 million shares were worth about $2.7 billion based on Friday's closing price and are being acquired for the discounted price of about $1.9 billion.

The investigation centred on payments and gifts Wynn Resorts says were made to Okada's two chief gaming regulators at the Philippines Amusement and Gaming Corporation. The regulators oversee Okada's provisional licensing agreement to operate in that country, Wynn Resorts said. The company said its investigation also found Okada and his associates consciously took actions to conceal "the nature and amount of these payments."

The investigation, which was led by former FBI director Louis Freeh, uncovered more than three dozen instances over a three-year period in which Okada and his associates engaged in "improper activities for their own benefit," Wynn Resorts said. The company says discoveries include cash payments and gifts totalling about $110,000 to foreign gaming regulators Based on the report, Wynn Resorts said its board found that Okada is "unsuitable"; the company's articles of incorporation provide for redemption at "fair value" of the shares held by unsuitable individuals.

The company issued a 10-year, $1.9 billion promissory note in redemption of the shares. The notes bear an interest rate of 2 per cent. Wynn said it will immediately recommend that Okada be removed from the board of its Hong Kong subsidiary, Wynn Macau Limited.

Last month, Okada filed a lawsuit against Wynn seeking financial documents regarding Wynn's $135 million donation to the University of Macau; its 2010 amendment to a shareholders agreement among Okada, Wynn and Wynn's ex-wife, Elaine Wynn; and the use of $30 million that Okada gave to Wynn Resorts in 2002 to help develop a Macau casino project. An email was sent seeking comment from Okada but it generated no immediate response.

Wynn Resorts says it filed a lawsuit against Okada, Aruze and Universal Entertainment in Nevada District Court for breach of fiduciary duty and related offences.

[IparryU]

Egyption friend of mine used to be a tour guide and always pushed people to their FG casinos for booze and other "fun" that you usually would not be able to get in Egypt.

You cant get alcohol in Egypt for the most part (as he said), but if there is an FG hotel, booze is there and so is gambling... makes a lot of money he said.

I would love to see a poker table in Japan. But my yen is on all of that being Yak monitored/regulated despite the govt involvement in all of this... not sure if that would make it a good or bad thing... but I would really like to play texas hold 'em...

[Coligny]

I would love to see a poker table in Japan.

I would love to know even the most basic rules of poker... it has been a mystery for the last 36 years of mah life...

[IparryU]

I would love to know even the most basic rules of poker... it has been a mystery for the last 36 years of mah life...

look here

[matsuki]

Wonder how quick the Yaks would get the jump on the Casinos...wonder if Pachinko parlors would close in droves =)

[tone]

at parry - yeah man i know the feeling. that edgy vibe of playing with strangers for decent money (still just an afternoon at pachinko) but that shaky handed feeling of real stakes and who knows who some of the people are.

used to play at this bowling alley casino near seattle in my early 20s right after i came back from japan the first time... i think it was 3-6 limit hold em. made some dumb mistakes, and even got lucky a few times from dumb mistakes.

the mega casino thing though, i dunno, maybe i hate change or distrust large companies, but just sounds sketch to me. i live not far from kamata, and i feel like ive seen enough sketchy. that said, who cares and i probably wont be living in japan by the time it gets built.

the other thing, is its always a weird reminder for me that casinos rake in money hand over fist. i kind of like forgetting that as opposed to being reminded

[IparryU]

at parry - yeah man i know the feeling. that edgy vibe of playing with strangers for decent money (still just an afternoon at pachinko) but that shaky handed feeling of real stakes and who knows who some of the people are.

used to play at this bowling alley casino near seattle in my early 20s right after i came back from japan the first time... i think it was 3-6 limit hold em. made some dumb mistakes, and even got lucky a few times from dumb mistakes.

the mega casino thing though, i dunno, maybe i hate change or distrust large companies, but just sounds sketch to me. i live not far from kamata, and i feel like ive seen enough sketchy. that said, who cares and i probably wont be living in japan by the time it gets built.

the other thing, is its always a weird reminder for me that casinos rake in money hand over fist. i kind of like forgetting that as opposed to being reminded

I never went to a casino cause I was too young to go when I was in the US, but all my hold'em buddies told me that even in the shadyest places, if you win (fair) and dont leave right after your win, no issues arise.

I doubt that this will be the case here in Japan if ran by the Yaks... I just dont see something like that happening. that is why only pachinko is allowed... all money in, very little out.