Ginji Yasuda, a Japanese businessman bought the property in early 1987 for $54 million. The casino was closed while Yasuda applied for his gaming license and a massive year-long refurbishing began. State gamers granted Yasuda a two-year conditional license. He was the first foreign resident to obtain such a license and quickly became a hero to some individuals. It is reported that Yasuda spent $20 million in remodeling the resort.

During the casino's one year closure, he kept 80 employees on the payroll and lost as much as $850,000 a month. Yasuda was living beyond the Aladdin's income. He kept one of five elevator shafts roped off for himself while guests were waiting long periods of time for elevators. He would stay up late at night in the penthouse watching hotel monitors, placing slot machines in neat, orderly lines with no carousels. The Aladdin has no excitement.

Rumors were that Yasuda used the corporation's $25 million jet to fly his wife to New York on afternoon shopping excursions. Vendors began wanting their payment in cash. Hospitals refused to be providers for the Aladdin employees. It was reported that Yasuda borrowed $6 million from Japanese organized crime interests to keep the Aladdin afloat against the Internal Revenue Service who wanted to seize the hotel.

In August 1989, Yasuda refused to reveal the source of his loans to the Nevada Gaming Commission which cost him his license. Four days later the Aladdin was again filing for bankruptcy. Yasuda died of cancer in December, 1989.