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Okura Holdings Profit and Revenue Declines

Okura Holdings, the pachinko hall operator, reported lower revenue after closing some of its parlors, and after changes in regulation reduced the gaming element of the machines, reducing their appeal to the public.

Keio University Seminar Provided to Melco Executives

Melco Resorts & Entertainment partnered with Keio University to give more than twenty of the IR operator’s foreign executives a seminar on Japanese history, culture, and business practices. The seminar took place in Tokyo on September 14.

At Least Fourteen Local Governments Still Mulling IR Bids

At the current juncture, a total of fourteen Japanese local governments may still be in the first round of the Japan IR race, according to the latest national surveys as well as local media reports.

JCM Global Gaming Business Sees Rising Profitability

JCM Global posted net profits of 1.3 billion yen (about US$12 million) for the fiscal year ending on March 31, which was a 39.5% year-on-year increase for the firm. Net sales reached a total of 31.3 billion yen (about US$290 million).

New Company Unveiled Seeking IR Development in Chiba

A new company has been created called “MICE IR Chiba” with the support of ten local companies, aiming to form the basis of a consortium for IR development in the Makuhari district of Chiba.

Yokohama IR Budget Passed Amidst Protests

With hundreds of anti-casino protesters chanting outside the building, Yokohama’s revised budget for IR development was passed with the support of the conservative majority in a plenary session of the city council on Friday.

Fitch: Ten-Year License Renewal “Biggest Obstacle” to IR Financing

Fitch Ratings has conducted a tour of Japan and offered a “special report” revising some of its previous estimates about the prospects for the Japan IR market, but it also raised a warning flag over the implications of the IR license renewal system.

Melco Announces “Yokohama First” Policy and Gives Up on Osaka

Melco Resorts & Entertainment announced on Wednesday that it would focus its IR campaign on Yokohama and that it was suspending its participation in bidding for the Osaka Yumeshima location.

Yokohama City Council Committee Approves IR Budget

A committee of the Yokohama City Council wasted little time in approving an amended budget including expenses for IR development, angering the opposition which denounced the move as contrary to the democratic spirit.

Tokyo Governor Keeps Options Open on IR Development

Tokyo Governor Yuriko Koike continues to send mixed signals on whether or not she intends to declare an IR bid for the Japanese capital, with observers on all sides trying to guess her intentions.

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Anti-Casino Mayoral Candidate Emerges in Wakayama

The issue of Wakayama’s IR bid will be a leading point of contention in the city’s July 29 mayoral election after a decidedly anti-casino challenger, Kumiko Shima, announced her candidacy.

US Supreme Court Strikes Down Ban on Sports Betting

The US Supreme Court has struck down a federal law against sports betting, paving the way for states to introduce legislation and opening a multi-billion dollar market.

Star Entertainment VIP Revenue Surges

Star Entertainment Group said its international VIP rebate business has continued to show strong growth into the second quarter, with turnover jumping almost 64 percent year to date.

Judicial Scriveners’ Association Calls for Scrapping IR Bill

The Japan Federation of Shiho-Shoshi Lawyer's Associations, the leading group for the nation’s judicial scriveners who specialize in legal registration procedures, issued a statement on June 5 calling for the IR Implementation Bill to be scrapped.

Opposition Makes Last Ditch Appeal against IR Bill

Five House of Representatives lawmakers from five separate opposition parties held a press conference within the Diet Building on June 12 in a last ditch attempt to prevent the passage of the IR Implementation Bill through the Lower House.