• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Sunday 11 May 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

Wakayama discloses IR regional development plan, names 12 shareholders

Shintaro Kamimura by Shintaro Kamimura
Tue 29 Mar 2022 at 06:29
Wakayama discloses IR regional development plan, names 12 shareholders
49
SHARES
1.2k
VIEWS
Print Friendly, PDF & Email

Wakayama prefecture, which is preparing to bid for development of an integrated resort, has published its regional development plan for a proposed property in Wakayama Marina City.

The plan was created based on the opinions of prefectural residents, obtained via local briefings and public hearings, and names three main shareholders – Clairvest Neem Ventures, Clairvest Group Inc and Caesars Entertainment – plus nine minority investors.

Those nine are Nishimatsu Construction, Cantor Fitzgerald, Global Gaming Asset Management Company, Hanwha Investment & Securities Co. Ltd, Idreamsky Technologies Holdings Ltd, ESV5 Esports Company, GW Investment Group, Zlony Holdings and NFKing Production Ltd.

In the plan, jointly drafted by the prefecture and Clairvest, the property opening has not changed from “autumn 2027 at the earliest”, but a note was added to say, “There are no plans to open the casino before the other facilities and all are planned to open simultaneously around autumn 2027.”

In the 2030 fiscal year, the third year after opening, tourism consumption accompanying the IR is estimated at JPY262.1 billion (US$2.1 billion) with an economic ripple effects of JPY545.2 billion (US$4.4 billion) nationally and JPY353.4 billion (US$2.9 billion) in Wakayama prefecture. New tax yield is estimated at JPY67.8 billion (US$547 million) in national taxes and JPY41.9 billion (US$338 million) in prefectural taxes by 2030.

MICE facility capacity has increased from 6,000 to 9,000 and the number of hotel guest rooms has also increased from 2,546 to 2,652.

The casino floor area has been expanded from 46,500 square meters to 55,367 square meters although the portion specifically earmarked for casino activities has decreased from 19,857 square meters to 19,643 square meters. According to the plan, the gaming floor will occupy 2.8% of the overall floor area for the entire IR.

Travel consumption is estimated at JPY171,147 (US$1,380) per foreign visitor, excluding casino activities.

The aim is to maximize the consumption unit in the high-end demographic with a focus on the wealthy. The plan is to avoid over-reliance on customers from any one specific country.

Wakayama plans to submit a proposal to the national government after obtaining approval from the city and at the prefectural assembly ahead of the 28 April 2022 deadline for applications.

RelatedPosts

Improved Okada Manila performance not enough to push Japan’s Universal Entertainment Corp back to profit in 2021

Japan’s Universal Entertainment rejigs management structure to speed up corporate decision-making process

Fri 28 Mar 2025 at 14:10
Sega Sammy revises FY25 gaming segment forecast upwards on higher US slot sales and more Japanese VIPs at Korean casino in Q3

Sega Sammy revises FY25 gaming segment forecast upwards on higher US slot sales and more Japanese VIPs at Korean casino in Q3

Sun 9 Mar 2025 at 08:18

Universal’s independent Governance Committee calls for greater separation from Okada family dispute  

Wed 5 Mar 2025 at 10:58
Fujimoto steps down from Universal leadership roles after Tokyo High Court finds he breached fiducial duty on US$43.5 million money transfer

UEC unsuccessful in appeal of judgement denying right to take action against shareholder in Fujimoto breach case

Fri 21 Feb 2025 at 17:26
Load More
Tags: Caesars EntertainmentClairvestirJapanregional development planWakayamaWakayama Marina City
Share20Share3
Shintaro Kamimura

Shintaro Kamimura

Shintaro Kamimura (from Tokyo) has worked for many years as a professional mahjong player, mahjong instructor and a writer. He travels far and wide both in Japan and overseas, fine-tuning his already extensive expertise in many areas of gaming, including Japanese pachinko and slot machines, and overseas casinos.

Current Issue

Editorial – The real reason Philippines casino revenues are down

Editorial – The real reason Philippines casino revenues are down

by Ben Blaschke
Sun 30 Mar 2025 at 23:04

After enjoying a post-COVID surge in gaming revenues at its licensed casinos, the Philippines has hit a rocky patch. In...

Inside Thai IRs

Inside Thai IRs

by Andrew W Scott and Ben Blaschke
Sun 30 Mar 2025 at 22:59

No time to read this whole article? Here are the bullet points! With passage of Thailand’s Entertainment Complex Bill through...

Resorts World Las Vegas – Lighting up the north

Resorts World Las Vegas – Lighting up the north

by Andrew W Scott and Ben Blaschke
Sun 30 Mar 2025 at 22:52

Inside Asian Gaming recently visited Genting’s American icon Resorts World Las Vegas to take a closer look at a property...

A baccarat perspective

A baccarat perspective

by Ryan Hong-Wai Ho
Sun 30 Mar 2025 at 22:37

In the first of a two-part series, Ryan Ho explores how gaming innovations and market changes have shaped the prominence...

Evolution Asia
Aristocrat
GLI
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

Bally’s Chairman Soo Kim talks after deal sealed to acquire Australia’s Star Entertainment

Bally’s Chairman Soo Kim talks after deal sealed to acquire Australia’s Star Entertainment

by Newsdesk
Wed 9 Apr 2025 at 06:16

Star Entertainment Group confirmed Monday it had entered into a binding term sheet with US casino operator Bally’s Corp to take control of the company as part of a US$300 million (US$180 million) deal. The term sheet, comprising a multi-tranche...

China-owned contractor of Chow Tai Fook’s Baha Mar ordered to pay US$1.6 billion to original owner for “many acts of fraud”

New York appellate court dismisses China Construction America’s appeal in US$1.6 billion Baha Mar fraud case

by Ben Blaschke
Wed 9 Apr 2025 at 05:59

A New York court has dismissed an appeal by China Construction America, Inc (CCA) against a Supreme Court ruling in October requiring it to pay US$1.6 billion to the original owner of Bahamas casino resort Baha Mar for committing “many acts...

Trade union warns massively increased casino pokies tax in NSW will cost jobs

Pub baron Bruce Mathieson agrees additional AU$100 million Star investment, reduces Bally’s contribution to AU$200 million

by Ben Blaschke
Wed 9 Apr 2025 at 05:40

Star Entertainment Group’s largest individual shareholder Investment Holdings Pty Ltd has entered into a binding term sheet with US casino operator Bally’s Corp that will see it subscribe for AU$100 million (US$60 million) in convertible bonds, reducing in the process...

RWLV names former MGM executive Greg Shulman as EVP of International Marketing

RWLV names former MGM executive Greg Shulman as EVP of International Marketing

by Newsdesk
Wed 9 Apr 2025 at 05:35

Genting Group’s US flagship Resorts World Las Vegas (RWLV) has announced the appointment of casino industry veteran Greg Shulman as Executive Vice President of International Marketing. Continuing the property’s recent management overhaul, RWLV said Shulman will lead its international casino...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 日本語

No Result
View All Result
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • English
  • 日本語