Oshidori International Holdings Ltd. last week announced that Alejandro Yemenidjian has resigned his post as the firm’s executive chairman and a non-executive director of the board.
The Hong Kong-listed investment firm appointed Yemenidjian in June 2020 to lead the charge for an integrated resort license in Japan’s Nagasaki Prefecture.
In a filing, Oshidori said Yemenidjian would “lead and supervise the company’s bid to own and operate a full-service, world class integrated resort project that includes luxury hotels, a casino, convention facilities, entertainment venues, shopping and restaurants in Nagasaki, Japan.”
The company added that he would help “formulate a strategy to successfully complete the IR project’s request-for-proposal tender process and to manage the overall operation of the IR project.” He was asked to “showcase Sasebo City and Nagasaki prefecture on a grand scale” while successfully leading the IR project’s RFP tender process and managing the project. According to the terms of his contract, Yemenidjian was to receive an annual service fee of US$1 million and a discretionary bonus.
Oshidori was among the final three bidders under Nagasaki’s tender, but lost out to Casinos Austria.
The former chairman, CEO and co-owner of the Tropicana Las Vegas also served for 16 years on the board of U.S.-based casino operator MGM Resorts International. He was chairman and CEO of Metro-Goldwyn-Mayer Studios from 1999 to 2005, and an executive of Tracinda Corp., owned by Las Vegas gaming giant Kirk Kerkorian. Yemenidjian is chairman and CEO of his own private investment company, GAST Enterprises Ltd.
According to Inside Asian Gaming, Oshidori said Yemenidjian is stepping down to pursue other business commitments. Joseph Edward Schmitz has also tendered his resignation as a non-executive director.