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Suncity Group withdraws from the Wakayama IR race

Wakayama confirms that Clairvest Neem is now the only RFP participant for the prefecture

Suncity Holdings Japan Co Ltd., has withdrawn from the request-for-proposal (RFP) process on hosting a casino resort in the the Japanese prefecture of Wakayama, as reported by GGRAsia.

Wakayama said in an email sent this Thursday that it had received a withdrawal letter from the Suncity entity, which is linked to entrepreneur Alvin Chau Cheok Wa, boss of privately-held Macau junket investor Suncity Group Ltd.

This leaves the Wakayama RFP—which has been pushed back—with only one suitor (like Osaka), Canada-based Clairvest Neem Ventures, remained in the race for an integrated resort, or IR scheme.

 


A statement from Chairman Alvin Chau on the company’s Japanese-language website on Wednesday, explains, “After deep consideration, we have made this difficult decision under the enormous impact on the industry due to the spread of the new coronavirus infection. Many companies anticipate a long period of uncertainty, and the IR certification process in Japan appears set to take a lot longer than expected. Many things remain unclear, but we must consider the risks as a business operator.

Suncity alvin chauMr. Chau added he had “sincere gratitude” for the “kindness” shown by people in Wakayama during Suncity Holdings Japan’s engagement with the prefecture.

Nontheless, the Wakayama prefecture confirmed to GGRAsia that it is keeping to its existing timetable for a RFP process regarding hosting a casino resort, and stated it had no plans to extend.

Clairvest opened an office in Wakayama City last September and has been active in cultivating community support, such as creating sponsorship deals with the local professional basketball team, the Wakayama Trians, and interaction with the local yachting community.

Wakayama prefecture officials are reportedly envisioning a Las Vegas - style casino resort integrating multiple hotels, exhibition facilities and retail elements as well as a ‘sports and wellness’ theme on a 58.3-acre privately-owned land in the Marina City that is approximately 40 kilometers from Kansai International Airport in Osaka Bay. 

SiGMA News:

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