As reported by the government of the Japanese Wakayama Prefecture, only two companies submitted their official plans towards securing one of the trios of licenses to construct and operate a fully integrated gambling-friendly resort in the area. Wakayama Prefecture is located in the Kansai region and it has a population of almost 1 million individuals as estimated in October of 2017. Like several other Japanese prefectures, Wakayama Prefecture is also looking forward to being granted all of the necessary licenses to become home to a fully integrated casino resort.
However, only two runners have joined the race after submitting their official RFP or request for proposal schemes. According to one report released by GGRAsia, the two companies which have joined the Wakayama Prefecture casino licensing race are the Suncity Group Holdings Japan Company Limited firm and the Clairvest Neem Ventures firm. Suncity Group Holdings Japan Company Limited is the local subsidiary of the Hong Kong-based Suncity Group Holdings Limited company while the second runner is subordinate of the Clairvest Group Incorporated firm which is a private equity management business.
Several Companies Withdrawing from the Race
According to one report by GGRAsia released several days ago, the Wakayama Prefecture officials had been very hopeful that other respectable, prominent international and local operators would be joining the race including the French company Groupe Lucien Barriere and the Filipino company Bloomberry Resorts Corporation. Nonetheless, both of these casino operators have decided to fully withdraw from the Wakayama Prefecture casino licensing race which kicked off two months ago.
The two companies which have withdrawn from the race have presented their initial concepts via a symposium that was hosted back in August and it seemed that they will remain in the contest. All in all, Wakayama Prefecture has rather ambitious plans and it is looking forward to being given all of the necessary government-approved permissions to become home to a fully integrated casino resort which would be completed with many retail elements, exhibition facilities, multiple hotels and of course, a massive casino floor.
According to the prefecture’s already submitted plans for this integrated gambling-friendly resort, the venue is planned for a fifty-eight-acre plot of land which is located on the artificial island of Marina City. Nonetheless, the nation of almost one million residents is facing rather stiff competition as several other prefectures have also submitted their official plans for one of the nation’s trio of casino licenses and these include Yokohama, Sasebo and Osaka communities.
Examination of the Two Bids in the Following Weeks
According to Inside Asian Gaming, the officials of the prefecture will probably take the following several weeks to thoroughly examine the two submitted bids from the two casino operators who have joined the race. Moreover, the two runners have until August to officially present their business plans and the rest of their RFP bids. According to the prefecture’s officials, Wakayama Prefecture is rather hopeful of being able to choose a preferred casino operating business partner by November.
Before Wakayama Prefecture picks one casino operator as its business partners, it will submit its official, completed casino proposal to federal selectors before a definite deadline comes which is set for the 30th of July, 2021. Wakayama Prefecture earlier shared that all successful casino licensing applicants have to implement a certain sports and wellness theme into their official proposals which will help with promoting tourism in the area. Moreover, the prefecture’s chosen casino operating partner will also have to follow measures that are crafted to help battling gambling issues. Lastly, the prefecture’s chosen business partner will also have to make sure that their finished casino resort can withstand earthquakes, tsunamis, and other natural disasters.