{"id":27431,"date":"2022-02-21T10:03:39","date_gmt":"2022-02-21T13:03:39","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=27431"},"modified":"2026-04-23T11:09:59","modified_gmt":"2026-04-23T14:09:59","slug":"wakayama-to-conduct-two-public-consultation-hearings-on-planned-ir-development","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/wakayama-to-conduct-two-public-consultation-hearings-on-planned-ir-development","title":{"rendered":"Wakayama to conduct two public consultation hearings on planned IR development"},"content":{"rendered":"\n

The Wakayama Prefectural Government has confirmed that two public consultation hearings will be held along with 14 briefing sessions open to residents.<\/p>\n\n\n\n\n\n\n\n

Japan.- Authorities in Wakayama will hold two\u00a0public hearings<\/a>\u00a0and 14 residents’ briefings to discuss the prefecture’s draft integrated resort (IR) district development plan. The Wakayama Prefectural Government hopes to\u00a0open an integrated resort by 2026<\/strong>. <\/p>\n\n\n\n

The prefecture must submit its area development plan to the national government for approval by April 28 if it is to bid for one of three IR licences planned for Japan. IR legislation requires public hearings that must be held before the prefectural government submits its plan to the Japanese government.<\/p>\n\n\n\n

According to Wakayama’s draft regional development plan, Canada\u2019s\u00a0Clairvest Neem Ventures Co Ltd<\/strong>, Wakayama\u2019s IR partner will raise JPY470bn (US$4.09bn) to invest in the integrated resort. The draft plan stipulates that the cost will be divided into JPY145bn in equity. <\/p>\n\n\n\n

Clairvest Neem Ventures and Canada’s Clairvest Group Inc will own 55 per cent of the total equity in the resort. Caesars Entertainment<\/a>\u00a0is also part of the core investor group with a 5 per cent stake.<\/p>\n\n\n\n

Last October, Japan\u2019s bicameral legislature opened the application window for\u00a0three integrated resorts licences<\/a>. There are currently only\u00a0three cities expected to bid:\u00a0<\/strong>Nagasaki, Osaka and Wakayama. All three could be chosen; however, the public authority may pick only one or two, or even none.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

The Wakayama Prefectural Government has confirmed that two public consultation hearings will be held along with 14 briefing sessions open to residents.<\/p>\n","protected":false},"author":176,"featured_media":20098,"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 public hearings and briefings for its draft integrated resort (IR) development plan, targeting a 2026 opening. The plan outlines a JPY470bn investment, with Clairvest Neem Ventures and Clairvest Group holding a 55% equity stake and Caesars Entertainment 5%. This initiative is part of Japan's competitive process to award three IR licenses, with Wakayama vying against Nagasaki and Osaka.","focusai_entities":"Wakayama Prefectural Government, Clairvest Neem Ventures Co Ltd, Clairvest Group Inc, Caesars Entertainment, Japanese national government","focusai_location":"Wakayama, Japan, Nagasaki, Osaka, Canada","focusai_target_profile":"ceo_executive (0.9), regulator (0.95), compliance_legal (0.9), operator_casino (0.95), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"IR Bid Financials","query":"What are the specific financial commitments and equity structures proposed by Clairvest Neem Ventures and Caesars Entertainment for the Wakayama IR, and how do these compare to other bidding consortia?"},{"label":"Regulatory Compliance Impact","query":"How might the outcomes of Wakayama's public consultation hearings influence the national government's approval process for its IR area development plan, particularly concerning local stakeholder sentiment and regulatory adherence?"}],"footnotes":""},"categories":[157,16338,158],"tags":[23632],"class_list":["post-27431","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","category-slider-home","tag-integrated-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27431","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=27431"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27431\/revisions"}],"predecessor-version":[{"id":27447,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27431\/revisions\/27447"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/20098"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=27431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=27431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=27431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}