{"id":18757,"date":"2021-06-08T15:34:01","date_gmt":"2021-06-08T15:34:01","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=18757"},"modified":"2026-04-23T18:47:49","modified_gmt":"2026-04-23T21:47:49","slug":"wakayama-clairvest-partners-with-two-companies-for-ir-bid","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/wakayama-clairvest-partners-with-two-companies-for-ir-bid","title":{"rendered":"Wakayama: Clairvest partners with two companies for IR bid"},"content":{"rendered":"\n

The Wakayama Prefectural Government announced Clairvest Neem Ventures\u2019 consortium as its IR partner after Suncity Group\u2019s withdrawal from the contest.<\/p>\n\n\n\n\n\n\n\n

Japan.- Clairvest<\/strong>\u00a0Neem Ventures\u00a0<\/strong>has partnered with\u00a0Groupe Partouche SA<\/strong>\u00a0and\u00a0AMSE Resorts Japan Co <\/strong>as part of its proposed IR development in Wakayama.<\/p>\n\n\n\n

Groupe Partouche SA is a french casino operator while AMSE is a company connected to\u00a0William Weidner<\/strong>, former president and CEO of Las Vegas Sands.<\/p>\n\n\n\n

Jeff Parr<\/strong>, vice chairman and managing director of Clairvest Group, said the consortium’s proposed IR would\u00a0help Wakayama recover\u00a0<\/strong>after the Covid-19 pandemic. Parr praised the\u00a0expertise of both companies<\/strong>.<\/p>\n\n\n\n

Wakayama prefecture<\/a> accepted a consortium headed by the Canadian private equity firm Clairvest<\/strong> Neem Ventures last week.<\/strong><\/p>\n\n\n\n

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

At first, Wakayama\u2019s governor expressed doubts about the possibility of moving forward with one\u00a0IR contender<\/a>.\u00a0<\/p>\n\n\n\n

He said: \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.\u201d<\/p>\n\n\n\n

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

Last week,\u00a0Bill Hornbuckle<\/a>, MGM president and CEO said he thinks\u00a0Nagasaki and Wakayama<\/strong>\u00a0may not be able to meet the national government\u2019s requirements in terms of non-gaming facilities at IRs.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Wakayama Prefectural Government announced Clairvest Neem Ventures\u2019 consortium as its IR partner after Suncity Group\u2019s withdrawal from the contest.<\/p>\n","protected":false},"author":176,"featured_media":18778,"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 has selected Clairvest Neem Ventures' consortium, including Groupe Partouche SA and AMSE Resorts Japan Co, as its Integrated Resort (IR) partner following Suncity Group's withdrawal. This decision proceeds despite initial governmental reservations and external concerns regarding the prefecture's ability to meet national non-gaming facility requirements for IRs. The proposed IR must feature significant MICE facilities and a casino capped at 3% of the total area.","focusai_entities":"Clairvest Neem Ventures, Groupe Partouche SA, AMSE Resorts Japan Co, William Weidner, Las Vegas Sands, Jeff Parr, Clairvest Group, Suncity Group, Wakayama Prefectural Government, MGM, Bill Hornbuckle","focusai_location":"Japan, Wakayama, France, Nagasaki","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.8), operator_casino (0.9), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"IR Project Viability?","query":"Given MGM's CEO's skepticism, what specific non-gaming facility requirements might Wakayama struggle to meet, and what are the implications for the national government's approval of this IR plan?"},{"label":"Clairvest's Funding Strategy?","query":"How does Clairvest Neem Ventures plan to secure the substantial capital required for an IR development of this scale, especially considering the economic uncertainties highlighted by Suncity's withdrawal?"}],"footnotes":""},"categories":[157,16338,158],"tags":[23632,23907],"class_list":["post-18757","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-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\/18757","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=18757"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18757\/revisions"}],"predecessor-version":[{"id":18789,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18757\/revisions\/18789"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18778"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=18757"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=18757"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=18757"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}