In Japan and the firm that was last week selected as the preferred operating partner for Wakayama Prefecture’s envisioned integrated casino resort development has now reportedly unveiled a pair of partners that it hopes will help to get its bid over the finishing line.
According to a report from Inside Asian Gaming, Clairvest Neem Ventures is eager to be given permission to bring a Las Vegas-style casino resort to a 50.7-acre plot of privately-owned land on the jurisdiction’s Marina City artificial island. The source detailed that the subsidiary of Canadian private equity management firm Clairvest Group Incorporated will now work with the Honshu community in advance of submitting its final plan to a panel of federal selectors ahead of an April of 2022 deadline.
To assist in this proposed $4.3 billion endeavor and the enterprise has this week reportedly signed associated partnership arrangements with French casino operating giant Groupe Partouche and management specialist AMSE Resorts Japan Company Limited. The three are purportedly hopeful that their new consortium will be granted one of Japan’s coming trio of 40-year integrated casino resort licenses and be able to open the planned Wakayama Prefecture development before the end of 2027.
Paris-headquartered Groupe Partouche is responsible for over 40 casinos spread across France and recently premiered the world’s first drive-through gambling service at its Casino Grande-Motte facility in the south of the nation. For its part and AMSE Resorts Japan Company Limited is reportedly funded by casino consultancy firm Global Gaming Asset Management LLC, which is an entity of former Las Vegas Sands Corporation senior executive William Weidner, while moreover having ties to the past Chief Operating Officer for one-time Macau gambling enterprise Melco Crown Entertainment, Garry Saunders.
Inside Asian Gaming reported that AMSE Resorts Japan Company Limited is furthermore thought to count the past Global Operations and Construction President for Las Vegas Sands Corporation, Bradley Stone, in addition to the youngest son of late Macau casino magnate Stanley Ho Hung-Sun, Mario Ho, as among its investors.
Jeff Parr serves as the Managing Director and Vice-Chairman for Toronto-based Clairvest Group Incorporated and he reportedly used an official press release to declare that the members of the new consortium have ‘a common vision for a Japanese integrated resort business.’
Reportedly read a statement from Parr…
“The integrated resort business aims to revitalize 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 pandemic.”