Clairvest confirmed as IR partner in Wakayama

Clairvest Neem Ventures was Wakayama's only remaining IR candidate.

07/21/21

The Wakayama Prefectural Government has approved Clairvest Neem Ventures’ consortium as its partner for its planed integrated resort.

Japan.- The Wakayama Prefectural Government has finally announced Clairvest Neem Ventures as its IR partner.

The authorities have approved the consortium’s integrated resort plans that it presented last week.

In June, Clairvest was left as the only IR bidder in Wakayama after Suncity Group withdrew from the process due to uncertainty caused by the impact of the Covid-19 pandemic.

Clairvest has partnered with Groupe Partouche SA and AMSE Resorts Japan Co to form a consortium for its bid. Groupe Partouche SA is a french casino operator while AMSE is a company connected to William Weidner, former president and CEO of Las Vegas Sands.

It’s initial investment in the IR development will be JPY470bn (US$4.3bn).

The Wakayama Prefectural Government hopes to open an Integrated Resort by 2026. It must submit its area development plan to the national government for approval by April 28, 2022.

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Clairvest Neem Ventures integrated resorts