Clairvest to partner Wakayama on casino push: reports

Jun 02, 2021 Newsdesk Japan, Latest News, Top of the deck  

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Several Japanese media outlets reported that a venture linked to Canada-based private-equity management firm Clairvest Group would on Wednesday be announced as business partner for Wakayama prefecture’s tilt at getting a casino resort.

Among the media carrying the report was Japanese public broadcaster NHK. The news outlet cited as the source of the information people with knowledge of the matter, but did not identify them.

The Wakayama authorities had confirmed to GGRAsia in mid-May that Clairvest Neem Ventures was the only contender for the prefecture’s request-for-proposal process, after a notice of withdrawal from Suncity Holdings Japan Co Ltd.

The prefecture (pictured) had announced it would find a business partner for a casino scheme by spring this year.

Local governments in Japan must find a private-sector partner, and then apply to the central authorities for the right to host an integrated resort (IR), as large-scale casino complexes are known in that country.

Up to three such venues will be permitted in Japan to coincide with the opening up of the market.

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