Wakayama names Clairvest Neem Ventures as private-sector partner

Japan Clairvest Neem Ventures Wakayama partner
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Clairvest Neem Ventures was the only bidder in the prefecture’s request-for-proposals process after Suncity Group opted to withdraw from the race.

 

Wakayama has confirmed Clairvest Neem Ventures as its private-sector partner to develop an integrated resort at Wakayama Marina City.

Clairvest heads a consortium made up of AMSE Resorts Japan – a firm linked to former Las Vegas Sands executive William Weidner – and French casino operator Partouche group.

Partouche had previously been linked with a bid to develop an IR in Nagasaki in partnership with Pixel Companyz and TTL Resorts.

Mario Ho, the youngest son of Stanley Ho, is also said to be involved with the Wakayama consortium.

“The members have a common vision for a Japanese IR business,” said Jeff Parr, vice chairman and MD of Clairvest Group. “The IR business aims to revitalise the region by increasing the visits of overseas customers to Wakayama Prefecture and the Kansai region. We believe it will contribute to the economic recovery from the effects of the coronavirus.”

The consortium will now work with the Wakayama authorities to produce a development plan which will be submitted to the Japanese government. The deadline for IR licence applications is 28 April 2022.

Clairvest was the only participant in Wakayama’s request-for-proposals process after Suncity Group opted to withdraw from the race. “Due to the COVID-19 pandemic, the uncertain situation surrounding a huge numbers of companies around the world may continue for a long time, and the IR project procedure in Japan also is expected to take much longer. Therefore, we have considered the risks to our business and the fact that things are still uncertain and have decided to withdraw,” said Suncity CEO Alvin Chau.

Meanwhile, Genting Singapore has formed a consortium with five Japanese firms for its Yokohama IR bid.

The operator will lead the consortium, which includes Sega Sammy Holdings, Sohgo Security Services Co (ALSOK), Kajima Corporation, Takenaka Corporation and Obayashi Corporation.

Sega Sammy is the only partner with prior gaming experience via its 45 percent stake in South Korean IR Paradise City, in collaboration with Paradise group.

Sohgo Security Services provides security and disaster prevention services, while Kajima, Takenaka and Obayashi are three of Japan’s “big five” architecture, engineering and construction companies.

“Our vision is to create a world class IR destination that is strategically positioned, sustainable and anchored on strong local collaborations,” said Genting Singapore in a statement.“Having both solid financial strength and over 30 years of successful track record in developing tourism focused IRs, we are ideally positioned to deliver an iconic IR to transform and grow Yokohama City to become a major tourist destination.”


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