City council members in Wakayama, Japan voted down a proposed referendum on whether it should pursue an integrated resort (IR) at Wakayama Marina City. This year Japan’s central government will choose up to three regional locations and their operating partners, who will then develop the country’s first casino resorts.
A local citizens’ group gathered 20,000 signatures calling for the referendum. After an extraordinary council session on the measure was held in late January, officials voted 28-9 against the plan, according to GGRAsia.
Wakayama Mayor Masahiro Obana, who supports the IR policy, opposed the referendum, in part due to the expense. According to a city official, the referendum could cost JPY 85 million (US$735,000). Obana pointed out that there is already a formal process to vote on the prefecture’s IR District Development Plan.
Canadian-based Clairvest Neem Ventures is Wakayama’s partner in the venture. U.S. casino operator Caesars Entertainment will play an operating role with “no capital commitment.”
In addition to Wakayama, Osaka and Nagasaki plan to bid for gaming licenses in the country. Proposals must be submitted to the central government by April 28.
Some questions must still be answered about Wakayama’s IR plans; council members are still in the dark about financing and consortium details; the prefecture and Clairvest said they could not reveal those details at that time. A series of briefings is scheduled for this month.
