Caesars had previously dropped out of the race for a Japanese casino licence in 2019.
Three licences were expected to be allocated within the country, initially for a build projected in the mid-2020s, but the Covid-19 pandemic and political opposition in places like Yokohama have delayed the overall process.
That said, Osaka recently confirmed it will definitively move ahead with MGM Resorts International for its casino licence – and it seems the timing has prompted long-time competitor Caesars into an announcement of its own.
The collaboration with Clairvest will see Caesars aim for a "Wakayama Marina City-based world-class IR;" Caesars joins the consortium with no capital commitment and "in full compliance with Japanese law."
Eddie Woo, Representative Director of Clairvest Neem Ventures, said: "We are thrilled to partner with Caesars Entertainment. Caesars and CNV share a common vision for Japan's national IR program.
"Not only will it serve to enhance the economic recovery from the Covid-19 pandemic through increased international visitation, we are confident that together we can create a resort that provides significant local economic stimulation in Wakayama prefecture, throughout the Kansai region and the rest of Japan."
Tom Reeg, Caesars CEO, added: "Caesars is an iconic brand, and we are proud to partner with CNV to bring it to Japan. We believe our experience blends perfectly with CNV's and look forward to creating something special with them for the Kansai region."
Given the recent disappointments of regions and companies pulling out of Japan's IR race, this Caesars news has provided the process with a much-needed boost.
