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Oshidori ups the ante in Nagasaki IR race as former MGM Resorts boss Alex Yemenidjian named to lead project

Hong Kong-listed Oshidori International Holdings Limited (HKEX: 622) says it will accelerate development of its Japanese IR bid in Nagasaki following the appointment of Alejandro Yemenidjian as Chairman and CEO of Japanese subsidiary Oshidori International Development Ltd. Mr Yemenidjian is also known as Alex Yemenidjian.

Yemenidjian, who has also been appointed a non-executive director and non-executive Chairman of Oshidori International Holdings, took the reins on Tuesday with a brief to deliver a concept that will “showcase Sasebo City and Nagasaki prefecture on a grand scale,” the company said.

Yemenidjian will also lead the company’s bid for IR operation and work with the company to formulate a strategy to successfully complete the IR project’s RFP tender process as well as to manage the overall operation of the project.

“We are excited to have Mr. Yemenidjian on board,” said Oshidori International Holdings Executive Director Margaret Wong.

“He has a breadth of experience and unparalleled expertise within the gaming and Integrated Resorts sector, which is of particular relevance to our current project agenda.

“I am confident that our company will benefit from Mr Yemenidjian’s valuable insights and global perspective as we continue to focus on executing our IR program that we are confident will be unmatched anywhere in the world.

“The Company and relevant stakeholders are looking forward to working hand-in-hand with Mr Yemenidjian in curating the vision for the IR project and to ensure that the integrated resort will offer a best-in-class experience to its guests and local community, while fulfilling its obligations to the government, people and organizations of Nagasaki Prefecture and Japan.”

Yemenidjian is a former co-owner of Tropicana in Las Vegas and long-time MGM Resorts executive, having served as Chairman and CEO of Metro-Goldwyn-Mayer Studios Inc from 1999 to 2005, and was a member of the board from 1997 to 2005.

He also sat on the Board of Directors of MGM Resorts International Inc for 16 years from 1989 to 2005 and as MGM Resorts President from 1995 to 1999, CEO from 1995 to 1999 and CFO from 1994 to 1998.

He was an executive of Tracinda Corporation, owned by legendary Las Vegas gaming figure Kirk Kerkorian – the former majority shareholder of MGM Studios and MGM Resorts and the man who built MGM Grand.

Both of Armenian descent, Yemenidjian is described as being Kerkorian’s right-hand man during his years at Tracinda and MGM, and they are known to have often played tennis together.

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