The Wakayama Prefectural Government has shared the final version of its District Development Plan for an integrated resort in the city.
Japan.- The final version of Wakayama’s IR District Development Plan has been released along with the results of a public consultation on the draft plan. Wakayama City Council is scheduled to vote on the document on March 30.
The final version of the Wakayama plan is largely based on a draft the prefecture released on February 9. The prefecture’s chosen private sector partner, Clairvest Neem Ventures, will raise JPY470bn (US$4.09bn) to invest in the integrated resort, which the prefectural government hopes will be open by 2026.
Cities and prefectures interested in developing an integrated resort have until April 28 2022 to submit their final project proposals. Up to three integrated resort licences will be allowed across the country under the existing liberalization plan.
Nagasaki and Osaka are also currently likely to submit corresponding applications – in the form of so-called IR District Development Plans – for casino resorts.