NORTH ASIA 36
JAPAN
Daniel Cheng*
Changing political winds pose risks for Clairvest’s Wakayama bid Caesars Entertainment has reemerged as a contender for an IR license in Japan, although it may face headwinds due to the shifting sands of Japanese politics.
T
he U.S. operator pulled out of the IR race in 2019 after a merger with Eldorado Resorts to focus on its U.S. operations. However in late September, it announced it was back, joining the Clairvest consortium for the proposed development of the Marina City integrated resort in Wakayama. It was no secret that Clairvest had long been seeking a casino operator partner, but had found few takers. All the major brands had fully invested their energies in metropolitan locations and Wakayama was only enough to whet the appetite of French casino outfit, Groupe Partouche, to join the Clairvest consortium.
Asia Gaming Briefings | November 2021
The favorite had been Suncity Holdings, which ran a well-tuned PR ground campaign, which eventually saw it outscoring Clairvest in the formal evaluation process. Clairvest had looked to be heading out the door until Suncity’s unexplained abrupt withdrawal in May, leaving the Clairvest camp buoyant as it meant they were now the sole bidder. The revelation of Caesars’ entry creates confusion over Partouche’s future role in the consortium. Landing a catch like Caesars is no mean feat, plus the carefully curated timing of the announcement bore the fingerprints of Bill Weidner and Brad Stone, the two
