{"id":18556,"date":"2021-06-02T14:53:12","date_gmt":"2021-06-02T14:53:12","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=18556"},"modified":"2026-04-23T18:59:22","modified_gmt":"2026-04-23T21:59:22","slug":"wakayama-to-confirm-clairvest-as-ir-partner","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/wakayama-to-confirm-clairvest-as-ir-partner","title":{"rendered":"Wakayama to confirm Clairvest as IR partner"},"content":{"rendered":"\n

The Wakayama Prefectural Government is expected to oficially announce Clairvest Neem Ventures’ consortium as its IR partner.<\/p>\n\n\n\n\n\n\n\n

Japan.- Wakayama prefecture is reported to have accepted a consortium headed by the Canadian private equity firm Clairvest<\/strong> Neem Ventures <\/strong>as its private operator partner for its bid to host one of Japan’s three integrated resorts.<\/p>\n\n\n\n

The prefecture was left with little choice after\u00a0Suncity Group<\/a>, the only other contender, withdrew from the process last month\u00a0due to uncertainty caused by the impact of the Covid-19\u00a0<\/strong>pandemic.<\/p>\n\n\n\n

At first, Wakayama\u2019s governor has expressed doubts about the possibility of moving forward with one IR contender<\/a>.\u00a0<\/p>\n\n\n\n

He stated: \u201cIf\u00a0it is very unlikely that the area development plan we propose to the national Government will pass<\/strong>, then we will not select this operator.”<\/p>\n\n\n\n

According to Wakayama prefecture\u2019s policy, the\u00a0IR development<\/a>\u00a0must create a symbolic landmark and be technologically advanced, including MICE facilities covering 50,000 square meters and\u00a0a casino comprising no more than 3 per cent of the entire area<\/strong>.<\/p>\n\n\n\n

As regards the current state of other Japanese IR developments, Osaka is in a similar position with\u00a0only one contender<\/a> for its bid: MGM-Orix.<\/p>\n\n\n\n

In Yokohama, Melco and Genting<\/strong> have passed to the final stage of the tender. However, mayoral elections could derail IR aspirations as there are two anti-IR candidates:\u00a0Masataka Ota<\/a>\u00a0and\u00a0Akiko Fujimura<\/a>.\u00a0<\/p>\n\n\n\n

Current mayor<\/a>\u00a0Fumiko Hayashi\u00a0<\/strong>has not yet decided if she will run for a fourth period. There is speculation that she may not run because of health reasons<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Wakayama Prefectural Government is expected to oficially announce Clairvest Neem Ventures’ consortium as its IR partner.<\/p>\n","protected":false},"author":176,"featured_media":18574,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Wakayama Prefecture is poised to designate Clairvest Neem Ventures as its Integrated Resort (IR) partner, following Suncity Group's withdrawal, leaving it with a sole contender. This mirrors Osaka's situation with MGM-Orix, while Yokohama's IR tender faces significant political risk from upcoming mayoral elections and potential anti-IR sentiment, impacting the broader Japanese IR development landscape.","focusai_entities":"Wakayama Prefectural Government, Clairvest Neem Ventures, Suncity Group, MGM-Orix, Melco, Genting, Masataka Ota, Akiko Fujimura, Fumiko Hayashi","focusai_location":"Japan, Wakayama, Osaka, Yokohama","focusai_target_profile":"ceo_executive (0.9), regulator (0.85), compliance_legal (0.7), operator_casino (0.9), tech_data (0.7), investor_analyst (0.9), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Wakayama IR Viability?","query":"What are the specific governance frameworks and national government criteria that Clairvest Neem Ventures' area development plan must satisfy to secure final approval, particularly given the initial gubernatorial doubts?"},{"label":"Japan IR Political Risk?","query":"How might the upcoming mayoral elections in Yokohama, and the potential for anti-IR candidates, influence the broader national strategy and timeline for Japan's integrated resort development?"}],"footnotes":""},"categories":[28,16338,158],"tags":[23632,23907],"class_list":["post-18556","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casino-news","category-east-asia-news","category-slider-home","tag-integrated-resorts","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18556","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=18556"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18556\/revisions"}],"predecessor-version":[{"id":18584,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18556\/revisions\/18584"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18574"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=18556"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=18556"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=18556"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}