The agreement between the Clairvest consortium and the Japanese prefecture is the first of its kind in Japan. It includes details about the consortium’s financial responsibilities, the establishment of an integrated resort (IR) company, and integrity matters.
Now that the agreement has been signed, the prefecture and the consortium will collaborate on an area development plan to showcase how the IR will contribute to the development and tourism of Wakayama. This plan will be submitted to the Japanese central government by April 28, 2022.
Local businesses are encouraged to partner with the prefecture government to strengthen the bid. If selected as one of Japan’s three integrated resorts, Clairvest will construct a 569,000 square meter facility in Wakanoura Bay, with a gaming floor occupying 38,000 square meters. The property will also feature a large conference hall, a Japanese heritage museum, restaurants, an esports facility, an urban sports park, and accommodations for up to 2,700 guests.
Last week, anonymous documents raised concerns about William Weidner’s suitability to be involved in the bid. Weidner, president of Gaming Asset Management and advisor to Clairvest, addressed these documents as baseless accusations lacking evidence of criminal activity.
