Japan – Caesars revealed as partner to Clairvest Wakayama bidBy Lewis - 30 September 2021
Clairvest Neem Ventures K.K. has revealed the participation of Caesars Entertainment, in its development and operating consortium for a Wakayama Marina City-based world-class integrated resort (IR) in Japan. Caesars joins the consortium in full compliance with Japanese law and with no capital commitment. The combination aligns Clairevest, one of the most experienced IR development and management teams in the world, with Caesars Entertainment, one of the gaming industry’s best-known brands and an elite casino operator.
“We are thrilled to partner with Caesars Entertainment,” said Eddie Woo, Representative Director of Clairvest Neem Ventures. “Caesars and CNV share a common vision for Japan’s national IR program. Not only will it serve to enhance the economic recovery from the COVID-19 pandemic through increased international visitation, but we are confident that together we can create a resort that provides significant local economic stimulation in Wakayama prefecture, throughout the Kansai region and the rest of Japan.”
“Caesars is an iconic brand, and we are proud to partner with CNV to bring it to Japan,” said Tom Reeg, CEO of Caesars Entertainment. “We believe our experience blends perfectly with CNV’s and look forward to creating something special with them for the Kansai region.”
The Clairvest team is comprised of a complement of IR industry professionals and operators, including; Mario Ho an Esports and entertainment entrepreneur, director of CNV and Chairman and Co-CEO of NIP Group, a multinational Esports organisation; Clairvest Group, a seasoned Canadian private equity firm with experience in 30 different land-based gaming and entertainment resorts in Canada, the United States and Chile; and William Weidner, former president and chief operating officer of Las Vegas Sands Corp. (LVS), and his team comprising of Bradley Stone, former president of global operations and construction at LVS and Garry Saunders, former COO of Melco Resorts & Entertainment and VP of international operations for LVS.
The combined experience of the parties, coupled with the dynamic location and supportive regulatory policy, will allow Clairvest to develop what will be the next major global IR destination.