{"id":17673,"date":"2021-05-07T16:41:30","date_gmt":"2021-05-07T16:41:30","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=17673"},"modified":"2026-04-23T19:44:14","modified_gmt":"2026-04-23T22:44:14","slug":"japan-wakayama-urged-to-select-ir-partner-soon","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/japan-wakayama-urged-to-select-ir-partner-soon","title":{"rendered":"Japan: Wakayama urged to select IR partner soon"},"content":{"rendered":"\n<p>The Wakayama IR Promotion Council has asked the prefecture to speed up the process to select an operator partner for its IR bid.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Japan.- The\u00a0<strong>Wakayama IR Promotion Council<\/strong>\u00a0has urged Wakayama prefecture to\u00a0<strong>take a decision as soon as possible<\/strong> on its preferred private partner for its IR bid.<\/p>\n\n\n\n<p>Wakayama prefecture announced in January that two private partner candidates,\u00a0<strong>Suncity Group and Clairvest Neem Ventures<\/strong>, had applied for its\u00a0<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/two-bidders-for-wakayama-ir-project\">IR bid<\/a>, but the\u00a0<strong>target date for an IR partner selection has been pushed back<\/strong>\u00a0several times.<\/p>\n\n\n\n<p>According to local media, t<strong>he target date will occur in the spring of this year<\/strong>\u00a0but little has been known in recent months.<\/p>\n\n\n\n<p><strong>Katsuaki Shirako<\/strong>, secretary-general of the IR Promotion Council, stated: \u201cWhen considering the era after the coronavirus, Wakayama will have a very difficult economic environment if the IR does not come.\u201d\u00a0<\/p>\n\n\n\n<p>According to Wakayama prefecture&#8217;s policy, the\u00a0<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/wakayama-announces-ir-implementation-policy\">IR development<\/a>\u00a0must offer a symbolic landmark and be technologically advanced, including MICE facilities covering 50,000 square meters and\u00a0<strong>a casino comprising no more than 3 per cent of the entire area<\/strong>.<\/p>\n\n\n\n<p>In September,<strong>\u00a0the prefecture extended the deadline for request-for-proposal (RFP) submissions\u00a0<\/strong>from potential private sector partners by almost three months to<strong>\u00a0January 2021<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Wakayama IR Promotion Council has asked the prefecture to speed up the process to select an operator partner for its IR bid.<\/p>\n","protected":false},"author":176,"featured_media":17674,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Wakayama IR Promotion Council has urged the prefecture to expedite the selection of an operator partner for its integrated resort bid, citing economic urgency. Despite two candidates, Suncity Group and Clairvest Neem Ventures, applying, the decision has been repeatedly delayed. The proposed IR development mandates specific features, including extensive MICE facilities and a limited casino footprint.","focusai_entities":"Wakayama IR Promotion Council, Suncity Group, Clairvest Neem Ventures, Katsuaki Shirako","focusai_location":"Japan, Wakayama","focusai_target_profile":"ceo_executive (0.9), regulator (0.85), compliance_legal (0.8), operator_casino (0.95), investor_analyst (0.9), supplier_vendor (0.75), journalist_researcher (0.8)","focusai_suggestions":[{"label":"IR Bid Delay Impact","query":"What are the specific financial and strategic implications of the repeated delays in Wakayama's IR operator selection for the prefecture and the bidding entities?"},{"label":"Regulatory Framework Evolution","query":"How might the ongoing delays in operator selection influence the broader regulatory compliance and governance frameworks for future IR developments in Japan?"}],"footnotes":""},"categories":[28,16338,158],"tags":[23632],"class_list":["post-17673","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casino-news","category-east-asia-news","category-slider-home","tag-integrated-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/17673","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=17673"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/17673\/revisions"}],"predecessor-version":[{"id":17681,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/17673\/revisions\/17681"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17674"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=17673"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=17673"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=17673"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}