Clairvest officially approved as Wakayama IR partner

The Wakayama prefectural government has officially approved Clairvest Neem Venture’s plans to develop an integrated resort in the city.  The company’s proposal consists of a facility of approximately 569,000 square meters in total size, including international conference halls, exhibition halls, restaurants, accommodation venues, and a casino. The initial investment amount pledged by Clairvest for the development of the Wakayama IR is JPY470 billion (US$4.3 billion). The prefectural government and Clairvest will now be looking to jointly formulate an area development plan in order to apply to the national government by April 28, 2022.