• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Wakayama prefecture unveils final version of IR plan

Mar 28, 2022 Newsdesk Japan, Latest News, Top of the deck  


Wakayama prefecture unveils final version of IR plan

Japan’s Wakayama prefecture has published the final version of its District Development Plan regarding an integrated resort (IR). The Wakayama City Council is scheduled to vote on the document on Wednesday (March 30).

The announcement on the final version of the IR District Development Plan was made on Friday, together with the results of a public consultation process on a draft version of the plan.

Public hearings are required in Japan by the legislation covering IRs. Such hearings must be conducted before the prefecture submits its IR plan to the Japanese national government.

The proposal for a casino in Wakayama must also be voted in a plenary meeting of the Wakayama prefectural assembly, before being submitted to the national authorities.

April 28 is the closing date for local governments to submit pitches to the national government for the right to host a casino resort. Up to three will be allowed nationally, under the existing liberalisation programme. Currently, Nagasaki and Osaka are also likely to submit a respective application – under the form of a so-called IR District Development Plan – for a casino resort.

The final version of Wakayama’s plan is mostly based on the draft disclosed by the prefecture on February 9.

According to Wakayama’s IR District Development Plan, its intended private-sector partner, Clairvest Neem Ventures KK, is responsible for raising the JPY470-billion (US$3.82-billion) cost of the scheme.

Some members of the local prefectural assembly have previously expressed scepticism about the ability of Clairvest Neem to raise the necessary funds.

The national government requires IR District Development Plans to include documentation as evidence of ability to raise funds for such schemes. Such paperwork should be in the form of what is referred to as “commitment letters”, regarded by the Japanese authorities as legally binding in relation to certain conditions.

The Wakayama prefectural government has decided to interpret letters of intent as sufficient evidence for the viability of Wakayama’s IR District Development Plan, according to information collated by GGRAsia’s Japan correspondent.


  • tweet
Related articles
  • Shinhwa World to add condos, villas amid recovery: exec
    Shinhwa World to add condos, villas...

    May 26, 2022  

  • Japan IR submission deadline passes with just 2 applicants
    Japan IR submission deadline passes...

    Apr 29, 2022  

More news
  • Macau hints at performance element for satellite ops
    Macau hints at performance element for...

    May 27, 2022  

  • Off timing in cash-strapped SJM buying Oceanus site: JPM
    Off timing in cash-strapped SJM buying...

    May 27, 2022  


Latest News

Macau hints at performance element for satellite ops

Macau hints at performance element for satellite ops

May 27, 2022  

The Macau government hinted on Friday it might under the proposed update to the city’s gaming framework, permit some kind of performance-related system – linked to “turnover”...
Read More
Off timing in cash-strapped SJM buying Oceanus site: JPM

Off timing in cash-strapped SJM buying Oceanus site: JPM

May 27, 2022  

RWS non-gaming offer Minion Land pledged to open 2024

RWS non-gaming offer Minion Land pledged to open 2024

May 27, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”The decision of Pagcor finding Suncity Group Manila and Mr Chau unsuitable is currently in effect”

Philippine Amusement and Gaming Corp



Most Popular

  • Alvin Chau indicted for illegal gaming, money launderingAlvin Chau indicted for illegal gaming, money laundering May 26, 2022
  • Marina Bay Sands to hire up to 2,000 workers: firmMarina Bay Sands to hire up to 2,000 workers: firm May 26, 2022
  • SJM to acquire Oceanus building for US$243mln in bondsSJM to acquire Oceanus building for US$243mln in bonds May 27, 2022
  • Macau satellites seek biz model leeway, says Ponte 16 bossMacau satellites seek biz model leeway, says Ponte 16 boss May 26, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us