According to Japan’s Wakayama prefecture, no additional suitors are vying to be a private-sector partner for the local government’s casino resorts. No new submissions have been offered.
The RFP deadline had been revised, but the same two suitors remain Clairvest Neem Ventures and Suncity Holdings Japan Co Ltd. Of note, Clairvest Neem Ventures is a unit of Canada-based private-equity management firm Clairvest Group. The other suitor is a Japan unit linked to privately-held Macau junket investor, Suncity Group.
The Wakayama integrated resort (IR) is a large-scale casino tourism complex. The new deadline was nearly three months later than previously set.
Wakayama’s governor, Yoshinobu Nisaka, had assurances at the national-government level that Wakayama’s proximity to the metropolis of Osaka (a possible site) would not weigh against Wakayama for national-level assessments of future projects.
The market is opening up, but a private-sector partner is needed before applying the central authorities. Only three venues will be permitted in Japan.
Because of the global pandemic, the timetable under which Japan’s national authorities will accepting bids from local governments who want to host a casino resort was pushed back.