{"id":22054,"date":"2021-08-27T11:37:24","date_gmt":"2021-08-27T14:37:24","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=22054"},"modified":"2026-04-23T16:14:39","modified_gmt":"2026-04-23T19:14:39","slug":"wakayama-and-clairvest-sign-ir-agreement","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/wakayama-and-clairvest-sign-ir-agreement","title":{"rendered":"Wakayama and Clairvest sign IR agreement"},"content":{"rendered":"\n

The Wakayama Prefectural Government has signed a basic agreement with Clairvest Neem Ventures\u2019 consortium for the development of an integrated resort.<\/p>\n\n\n\n\n\n\n\n

Japan.- Wakayama has become the first prefecture in Japan to sign an agreement<\/strong>\u00a0with a private operator in order to make its bid to host an integrated resort.<\/p>\n\n\n\n

Almost a month after approving\u00a0Clairvest Neem Ventures\u2019 consortium<\/a>\u00a0as its partner for the planned integrated resort<\/strong>, The Wakayama prefectural government has\u00a0signed a basic agreement with the group<\/strong>.<\/p>\n\n\n\n

The agreement contemplates the establishment of an IR company,\u00a0confirms the integrity procedures to be adopted by the consortium<\/strong> and mentions procedures for the maintenance of the consortium\u2019s ethical integrity.<\/p>\n\n\n\n

The Wakayama prefectural government has asked the consortium to refine its proposal<\/strong>, strengthen its implementation plan, and cooperate with local companies.<\/p>\n\n\n\n

In June,\u00a0Clairvest<\/a>\u00a0was left as the only IR bidder in Wakayama after\u00a0Suncity Group<\/a>\u00a0withdrew due to uncertainty caused by the impact of the Covid-19\u00a0<\/strong>pandemic.<\/p>\n\n\n\n

Clairvest<\/a>\u00a0has partnered with\u00a0Groupe Partouche SA<\/strong>\u00a0and\u00a0AMSE Resorts Japan Co to form a consortium for its bid.\u00a0<\/strong>Groupe Partouche SA is a French casino operator. AMSE is a company connected to\u00a0William Weidner<\/strong>, former president and CEO of Las Vegas Sands.<\/p>\n\n\n\n

The initial investment in the IR development will be JPY470bn (US$4.3bn). The Wakayama Prefectural Government hopes to\u00a0open an integrated resort by 2026<\/strong>. It must submit its area development plan to the national government for approval by April 28, 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Wakayama Prefectural Government has signed a basic agreement with Clairvest Neem Ventures\u2019 consortium for the development of an integrated resort.<\/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":"The Wakayama Prefectural Government has formalized a basic agreement with Clairvest Neem Ventures' consortium for the development of an Integrated Resort (IR). This agreement, following Suncity Group's prior withdrawal, outlines the establishment of an IR company, confirms integrity procedures, and details a JPY470bn investment, targeting a 2026 opening with a national government submission deadline of April 2022.","focusai_entities":"Wakayama Prefectural Government, Clairvest Neem Ventures, Suncity Group, Groupe Partouche SA, AMSE Resorts Japan Co, William Weidner, Las Vegas Sands","focusai_location":"Japan, Wakayama","focusai_target_profile":"ceo_executive (0.9), regulator (0.95), compliance_legal (0.9), operator_casino (0.9), investor_analyst (0.95), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Integrity Framework Details","query":"What are the specific integrity procedures and governance frameworks mandated by the Wakayama Prefectural Government for Clairvest Neem Ventures, and how do they align with national regulatory expectations for IR licensing?"},{"label":"IR Financing Structure","query":"How will the JPY470bn capital expenditure for the Wakayama IR be structured and financed, and what are the projected financial returns and risk profiles for the consortium partners?"}],"footnotes":""},"categories":[157,16338,158],"tags":[23931,23632],"class_list":["post-22054","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","category-slider-home","tag-clairvest-neem-ventures","tag-integrated-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22054","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=22054"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22054\/revisions"}],"predecessor-version":[{"id":22085,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22054\/revisions\/22085"}],"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=22054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=22054"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=22054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}