In Japan and the Wakayama Prefecture Government, they reportedly announced that Suncity Holdings Japan Company Limited had withdrawn from the race for the title of operator stipulated by the integrated casino resort jurisdiction.

According to Thursday's report by GGRAsia, the small office of Honshu is currently looking for a suitable company to operate the proposed Las Vegas-style facility, in the RFP stage, and has been considering an offer from a subsidiary of Hong Kong-based giant Suncity Group Holdings Limited since April last year.

The only contender:

However, the source said the exit means there is now only one contestant in the contest to be called the preferred operator for Wakayama Prefecture Wakayama Prefecture plan ned Integrated Casino Resort, Clairvest Neem Ventures subsidiary of a Canadian private equity management company Clairvest Group Incorporated . Currently, it appears that this entity is likely to be presented as the jurisdiction's selected candidate to drive a planned gambling-friendly venue a 50. 7-acre plot of land with private land on the artificial island of Marina City.

Scheduling:

Home at around 945, 10 people, Wakayama Prefecture released an official policy for implementing its ambitious resort casino campaign in January, and reportedly still hopes to pick their preferred partner by spring ". The community allegedly then plans to submit a completed application to adopt one of the upcoming ones trio - annual gambling licenses to the federal selectors' panel in the hopes of being given the green light to the launch of such a gambling-friendly facility by the end of 2026.

Industry insecurity:

Avoiding the inquiry process in Wakayama Prefecture and billionaire head of Suncity Group Holdings Limited, Alvin Chau Cheok Wa , reportedly stated that his company was suffering from " huge impact 'coronavirus pandemic and that this' uncertainty 'is likely to remain a significant factor " for a long time ". He reportedly stated that his company decided to withdraw after " careful consideration "Because jurisdiction was also taking" much longer than expected ”To select the preferred operational partner.

An ambitious goal:

Although most casino gambling is currently illegal in Japan , the coalition government of the former prime minister Shinzo Abe passed the 2018 law in July, i.e. see the nation some 126 million people offer up three casino licenses . To be selected to host one of these future facilities, candidate communities must cooperate with an experienced foreign operator before the final plans are sent to the selectors in Tokyo by the April 2022 deadline.