• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Friday 30 May 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

Wakayama confirms Clairvest selection as first details of IR proposal released

Tomo Yamamoto by Tomo Yamamoto
Thu 3 Jun 2021 at 06:52
Wakayama confirms Clairvest selection as first details of IR proposal released

Not to be: An artist's impression of what could have been Clairvest's Wakayama IR

51
SHARES
1.3k
VIEWS
Print Friendly, PDF & Email

Wakayama prefecture governor, Yoshinobu Nisaka, held a press conference at the prefectural office on Wednesday where he announced that Clairvest Neem Ventures, a subsidiary of Canadian investment firm Clairvest Group, had been selected to proceed with the prefecture’s IR bid.

This makes Clairvest the first IR operator partner to be announced among the four regions known to be pursuing one of three IR licenses to be issued by Japan’s national government (the others being Osaka, Yokohama and Nagasaki). The prefecture is hoping to open its facility in spring 2026 although Clairvest has proposed autumn 2027.

According to information published by the prefecture on Wednesday, Clairvest’s IR concept is based on a theme of “land of wood and a land of water” with nature at its core. The total floor area of the facility will be about 569,000 square meters, of which a casino facility will cover around 38,000 square meters.

It will also offer 2,700 rooms and an international exhibition hall with a large conference hall that can accommodate 3,000 people.

Notably, Clairvest has proposed an investment of JPY470 billion (US$4.3 billion) versus the JPY279.9 billion (US$2.6 billion) suggested by Wakayama under its fundamental concept. Both the scale of investment and target number of visitors put forward by Clairvest are therefore much larger than Wakayama’s own estimations.

The IR is planned to be built on an artificial island called Wakayama Marina City in Wakayama city.

The selection of Clairvest comes after Suncity Group withdrew from the race, citing an uncertain global business environment, last month. It was revealed Wednesday that Suncity had in fact scored higher than Clairvest based on the IR selection committee’s initial assessment.

Their absence had sparked suggestions Wakayama may itself withdraw from the Japan IR race, but after deciding to name Clairvest as its partner, Governor Nisaka said Wednesday, “We can take the next step with confidence. Moreover, we will probably be able to obtain national approval if we improve on the plan.”

Nisaka compared his prefecture’s progress with Osaka, Yokohama and Nagasaki, stating, “Our process is the fastest and has the most certainty.”

According to materials released by the prefecture, the proposal documents from the two parties were examined three times by the operator selection committee before its finding were handed to the prefecture on 30 April showing Suncity had achieved the higher score. Suncity announced its withdrawal on 12 May.

A local organization comprising 100 private companies said, “Suncity had spoken with locals and was promoting regional sports. In comparison, Clairvest has not been visible.”

In an interview with NHK, Clairvest Group said, “It is a great honor to be selected as a preferential candidate in the operator open recruitment. We hope to realize an IR ideal for Wakayama and create a wonderful plan with the prefecture based on sufficient discussion with the people of Wakayama. We will do everything we can to be selected by the national Japanese government.”

Wakayama added, “The selection of a priority candidate takes us another step closer to realizing a Wakayama IR. We want to work together closely with the prefecture and make every effort to create the best plan for Wakayama as a city.”

RelatedPosts

Japan’s Dynam reopens 101 pachinko halls after some closure requests lifted

Dynam Japan continues pachinko hall rationalization as revenues fall again in FY25

Tue 27 May 2025 at 06:45
Two-day Japan IR Online Forum to start today

Japanese said to have gambled US$45 billion on illegal overseas betting sites in 2024

Fri 23 May 2025 at 05:51
Okada Manila recognizes Earth Hour with eco-friendly initiatives

Japan’s Universal falls to US$52 million loss in 1Q25, outlines plan to promote new online gaming platform at Okada Manila

Thu 15 May 2025 at 05:56
Sega Sammy’s FY25 sales hit by decline in pachinko but new gaming segment shows promise

Sega Sammy’s FY25 sales hit by decline in pachinko but new gaming segment shows promise

Tue 13 May 2025 at 05:54
Load More
Tags: ClairvestGovernor Yoshinobu NisakairJapanSuncity GroupWakayamaWakayama Marina City
Share20Share4
Tomo Yamamoto

Tomo Yamamoto

Born in Okayama, Japan in 1964, Tomo has covered horse racing, professional baseball, golf, boxing and more in his role as a sports writer. He first encountered casinos before Macau was returned to China in 1999. He has traveled to South Korea and Manila to cover events and scope out the local scene. He has studyied “How to get along with casinos,” a topic he learned of from Osaka University of Commerce.

Current Issue

Editorial – Foreigner-only casinos: Seize the day

Editorial – Foreigner-only casinos: Seize the day

by Ben Blaschke
Thu 29 May 2025 at 13:38

I was recently asked by someone working at a foreigner-only casino for my thoughts on the outlook for the Asian...

On the brink

On the brink

by Pierce Chan
Thu 29 May 2025 at 13:27

The transition period for Macau’s 11 satellite casinos is set to expire at the end of this year, after which...

A moral defense of gambling

A moral defense of gambling

by Andrew Russell
Wed 28 May 2025 at 18:19

Economist Andrew Russell explores the differences between community benefit and in-principle arguments for the existence of a legal gambling industry...

Face to face

Face to face

by Ben Blaschke
Wed 28 May 2025 at 18:08

Konami caught the eye at the recent G2E Asia show in Macau with its SYNK Vision Tables, which utilize facial...

Evolution Asia
Aristocrat
GLI
Mindslot
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

Robert Goldstein to step aside as LVS Chairman and CEO from March 2026, replaced by Patrick Dumont

Robert Goldstein: Macau gaming market challenged by increased competition, online gambling and US-Sino trade war

by Ben Blaschke
Fri 30 May 2025 at 06:42

Las Vegas Sands (LVS) Chairman and CEO Robert Goldstein has bemoaned the lingering impact of the US-China trade war, as well as increased domestic and regional competition and the rise of online gambling across Asia for sustained flatness in the...

Industry hopes Thai Entertainment Complex Roundtable can establish “common ground” with those opposing legal casinos

Industry hopes Thai Entertainment Complex Roundtable can establish “common ground” with those opposing legal casinos

by Ben Blaschke
Fri 30 May 2025 at 05:38

Industry figures taking part in the Thai Entertainment Complex Roundtable (TECR) next Thursday 5 June hope to find common ground with those who oppose Thailand’s Entertainment Complex Bill, citing the opportunity to use an evidence-based approach to achieve outcomes that...

Genting Malaysia misses 4Q24 estimates, slashes dividends as rising costs hurt profitability

Genting Malaysia reports US$613 million in Q1 revenue, impacted by lower VIP at Resorts World Genting

by Ben Blaschke
Fri 30 May 2025 at 05:23

Genting Malaysia reported a 6% decline in group-wide revenue to MYR2.60 billion (US$613 million) in the three months to 31 March 2025, including a 7% drop in revenue at flagship Malaysian property Resorts World Genting (RWG) to MYR1.62 billion (US$382...

Macau’s hotel occupancy rate reaches 89% in July

Macau’s hotel occupancy rate climbed to 87.8% in April

by Pierce Chan
Thu 29 May 2025 at 17:27

Macau’s average hotel occupancy rate rose by 4.7 percentage points year-on-year to 87.8% in April, with the number of guests increasing by 3.4% to 1.2 million. According to data from the Statistics and Census Service (DSEC), there were 147 hotel...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文
  • 日本語

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English
  • 日本語