Two bidders for Wakayama IR project

Wakayama is one of four prefectures in the race for three IR licences in Japan.
Wakayama is one of four prefectures in the race for three IR licences in Japan.

The prefecture has closed its RFP process with two candidates competing to be its chosen partner for its integrated resort bid.

Japan.- Wakayama prefecture has confirmed it has two private partner candidates for the development of its IR bid: Suncity Group and Clairvest Neem Ventures.

It made the announcement after closing its request for proposal process.

The prefecture plans to select its preferred operator by March. Wakayama and its partner will then have more than a year to prepare their bid for a licence develop an integrated resort.

The national government last year delayed the application period by nine months, with the new timeline to run from October 1, 2021, to April 28, 2022.

Wakayama hopes to open an IR facility in Wakayama Marina City in around spring of 2026.

Suncity Group has been particularly active in the casino and integrated resort space in recent years, having last year held a soft opening of its Vietnam development Hoiana.

It also took a majority stake in Russia’s Tigre de Cristal and revealed plans to develop a US$700m casino and hotel in the Philippine capital, Manila.

Its Japanese entity also announced this year that it would develop non-gaming resorts on Miyako Island, Okinawa, and in Niseko, Hokkaido.

The Clairvest Group, which owns Clairvest Neem Ventures, is a Canadian investment company involved in casino and resort developments in Canada, the United States and Chile.

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Clairvest Neem Ventures integrated resorts Suncity Group