Caesars Entertainment Partners with Clairvest Group to Build Japan Resort

Caesars Entertainment has teamed up with a group led by Clairvest, who are vying to construct a combined resort in Wakayama Prefecture, Japan.

The group is comprised of Canadian private equity behemoth Clairvest Group, former Las Vegas Sands President and Chief Operating Officer William Weidner, and various gaming and esports leaders.

These include Bradley Stone, former President of Global Operations and Construction for Sands; Gary Sanders, former head of operations for MGM Resorts; and Mario Ho, Chairman and Co-CEO of esports organization NIP Group.

Caesars’ statement did not mention the group’s prior involvement in the casino business, which is the Patoush Group.

“We are thrilled to collaborate with Caesars Entertainment,” remarked Ho, Director of Clairvest Nim Ventures. “Caesars and CNV share a common vision for the Japanese National Integrated Resort plan.

“It will not only stimulate economic recovery from the COVID-19 pandemic by increasing the number of international travelers, but we believe that together we can construct a resort that will bring substantial local economic growth to Wakayama Prefecture, the entire Kansai region, and other parts of Japan.”

Tom Reeg, the head honcho of Caesars Entertainment, stated that his company’s brand is “legendary” and expressed his pride in collaborating with the group to bring it to Japan.

“We believe our knowledge perfectly complements CNV’s expertise and we anticipate crafting something distinctive for the Kansai area with them.”

While Wakayama has not yet been chosen as one of the three locations for Japan’s integrated resorts, the Clairvest Neem Consortium was selected as the city’s partner in June.

The group proposed a 569,000 square meter facility on Wakaura Bay in the city, encompassing a 38,000 square meter gambling zone, as well as a convention center, a Japanese cultural heritage museum, and an esports arena.

Following the signing of a fundamental agreement with the city in August, Wakayama Prefecture will now collaborate with the group to develop a regional development plan outlining how the facility will enhance tourism and development. The plan must be submitted to the Japanese government by April 2022.

Wakayama is the second region to choose its IR partner after Nagasaki. Nagasaki has partnered with Austrian International Casino Company and signed a fundamental agreement. Osaka has only one contender, a group led by MGM Resorts and Orix.

However, Yokohama has withdrawn from the IR process after Kana Takehara was elected mayor. He opposed the project during his campaign.

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