Clairvest Neem Ventures has partnered with Caesars Entertainment as part of its proposed IR development in Wakayama.
Japan.- Caesars Entertainment has announced that it will partner with Clairvest Neem Ventures to be part of its planned IR development in Wakayama.
In July, the Wakayama Prefectural Government approved Clairvest Neem Ventures’ consortium as its partner for its planned integrated resort. Clairvest has partnered with Groupe Partouche SA and AMSE Resorts Japan Co to form a consortium for its bid.
In 2019, Caesars Entertainment had expressed interest in developing an integrated resort in Osaka, but the company finally withdrew from the process.
Eddie Woo, representative director of Clairvest Neem Ventures, said: “We are thrilled to partner with Caesars Entertainment. Caesars and CNV share a common vision for Japan’s national IR program.”
Tom Reeg, Caesars CEO, said: “Caesars is an iconic brand, and we are proud to partner with CNV to bring it to Japan. We believe our experience blends perfectly with CNV’s and look forward to creating something special with them for the Kansai region.”
The 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.
Groupe Partouche SA is a French casino operator. AMSE is a company connected to William Weidner, former president and CEO of Las Vegas Sands.