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Japan – Special prefectural committee gives approval for casino project in Wakayama

A special prefectural committee has given its approval to the Wakayama Prefectural Government for Clairvest and Caesars Entertainment’s plans for a Wakayama Marina City-based world-class integrated resort (IR) in Japan.

Planen är att bygga en IR i Wakayama Marina City, som täcker 569,000 38,000 kvm. med spelgolvet som tar upp 2,700 XNUMX kvm. Det kommer att finnas XNUMX XNUMX hotellrum, en internationell utställningshall och konferenshall och ett fokus på naturen med temat "ett land av trä och ett land av vatten."

The proposal still needs to get a plenary vote at the Wakayama Prefectural Assembly.

Clairvest has confirmed it has received letters of interest from nine potential investors and four financial services firms.

Caesars joined the project’s consortium back in September. The combination aligns Clairevest, one of the most experienced IR development and management teams in the world, with Caesars Entertainment, one of the gaming industry’s best-known brands and an elite casino operator.

The Clairvest team is comprised of a complement of IR industry professionals and operators, including; Mario Ho an Esports and entertainment entrepreneur, director of CNV and Chairman and Co-CEO of NIP Group, a multinational Esports organisation; Clairvest Group, a seasoned Canadian private equity firm with experience in 30 different land-based gaming and entertainment resorts in Canada, the United States and Chile; and William Weidner, former president and chief operating officer of Las Vegas Sands Corp. (LVS), and his team comprising of Bradley Stone, former president of global operations and construction at LVS and Garry Saunders, former COO of Melco Resorts & Entertainment and VP of international operations for LVS.

The Wakayama Prefectural Government hopes to open the integrated resort by 2026.

Japans Prime Minister Fumio Kishida recently repeated his belief that introducing casinos would boost tourism.