Yemenidjian stands down as Oshidori director after failed Nagasaki IR bid

October 7, 2022 Events & Announcements Industry Updates

Hong Kong-listed Oshidori International Holdings Limited has announced the resignation of Alejandro Yemenidjian as Executive Chairman and a non-executive director of the board.

Yemenidjian’s departure comes just over two years since he first joined the company to lead its bid to develop an integrated resort in Nagasaki, Japan. Oshidori said at the time that the former MGM Resorts executive had been asked to deliver an IR concept to “showcase Sasebo City and Nagasaki prefecture on a grand scale” while working with the company to formulate a strategy to successfully complete the IR project’s RFP tender process and to manage the overall operation of the project.

Oshidori reached the final three bidders under Nagasaki’s tender but was ultimately pipped at the post by Casinos Austria following a selection process shrouded in controversy.

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.

Oshidori said overnight that Yemenidjian was stepping down due to other business commitments, while resigning Joseph Edward Schmitz has also tendered his resignation as a non-executive director.