{"id":23988,"date":"2021-10-28T07:50:18","date_gmt":"2021-10-28T10:50:18","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=23988"},"modified":"2026-04-23T14:22:41","modified_gmt":"2026-04-23T17:22:41","slug":"wakayama-to-begin-ir-public-hearings-on-november-25","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/wakayama-to-begin-ir-public-hearings-on-november-25","title":{"rendered":"Wakayama to begin IR public hearings on November 25"},"content":{"rendered":"\n

The Wakayama Prefectural Government has announced 14 public hearings on its IR development plan to be held from November 25 to December 5.<\/p>\n\n\n\n\n\n\n\n

Japan.- Wakayama Prefectural Government, which has partnered with a consortium led by\u00a0Clairvest Neem Ventures<\/strong> for its IR bid, will hold a\u00a0public consultation\u00a0<\/strong>to take feedback from members of the public, city authorities, and the prefectural assembly. <\/p>\n\n\n\n

The public consultation will comprise 14 meetings held from November 25 to December 5<\/strong>\u00a0before the prefecture submits an updated development plan by the end of December.\u00a0Clairvest Neem Ventures will have to show its ability to raise assets for the IR development.<\/p>\n\n\n\n

In June,\u00a0Clairvest<\/a>\u00a0was left as the only IR bidder in Wakayama after\u00a0Suncity Group<\/a>\u00a0withdrew\u00a0due to uncertainty caused by the impact of the Covid-19\u00a0<\/strong>pandemic. If the company fails to show a development plan, the prefecture will call time on its casino plans.<\/p>\n\n\n\n

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

The initial investment in the IR development is estimated at 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 announced 14 public hearings on its IR development plan to be held from November 25 to December 5.<\/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 is conducting 14 public hearings on its Integrated Resort (IR) development plan, partnered with Clairvest Neem Ventures, before submitting an updated proposal by December's end. This consultation is crucial for the consortium, which includes Groupe Partouche SA and AMSE Resorts Japan Co, to demonstrate financial viability and secure national government approval for the JPY470bn project, targeting a 2026 opening. The process follows Suncity Group's earlier withdrawal, underscoring the project's inherent market and regulatory complexities.","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 (0.9), compliance_legal (0.85), operator_casino (0.9), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Clairvest Funding Strategy","query":"What specific asset-raising strategies and financial instruments will Clairvest Neem Ventures employ to secure the JPY470bn investment, particularly given the prior withdrawal of Suncity Group and the current capital market conditions?"},{"label":"Regulatory Approval Timeline","query":"What are the key performance indicators and specific regulatory compliance benchmarks the Wakayama Prefectural Government must meet to ensure national government approval by April 28, 2022, and what are the implications of potential delays on the project's financial viability?"}],"footnotes":""},"categories":[157,16338,158],"tags":[23931,23632],"class_list":["post-23988","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\/23988","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=23988"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23988\/revisions"}],"predecessor-version":[{"id":23995,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23988\/revisions\/23995"}],"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=23988"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=23988"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=23988"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}