Clairvest is a Toronto-based private equity management firm that invests mainly in mid-market companies, principally in North America, across a wide array of industries including gaming. Clairvest has been involved with more than twenty casinos at one point or another as an investor and/or operator, with a notable focus on the South American market.
The Clairvest Group established the Clairvest Neem Ventures in the Shinagawa Ward of Tokyo in 2017 as its arm to seek an IR license within the Japanese market. They have targeted regional opportunities in Japan, including Tomakomai and Sasebo.
Family Name: Wagman
Given Name: Michael
Role: President and Managing Director
Profile: Beginning his career at Nesbitt Burns Equity Partners in the field of investment banking, Wagman joined Clairvest in 1998 and became its managing director.
Family Name: Parr
Given Name: Jeff
Role: Vice-Chairman and Managing Director
Profile: Trained as an accountant, Parr spent his early career at institutions such as the National Bank of Canada and Citibank Canada. He joined Clairvest in 1995, specializing in investment strategies and providing capital to medium-sized companies.
Family Name: Gupta
Given Name: Prashant
Role: Representative Director
Profile: Gupta is a private investor with experience in gaming, private equity, hedge funds and real estate. Prashant began his career at Ernst & Young and most recently spent several years as the CFO of a Forbes 400 family office in Chicago. Beginning in early 2014, Gupta started spending significant time in Japan. In 2017, he set up Clairvest Neem Ventures as a partnership with Clairvest Group to pursue a regional integrated resort.
The decision by Hokkaido Governor Naomichi Suzuki to drop out of the Japan IR race does not simply remove one more local government from contention, it also represents the collapse of what was arguably the strongest IR initiative outside of the Kansai and Kanto regions, the regional IR which probably would have produced the highest financial returns.
According to its latest financial report, the Clairvest Group of Canada, now seeking an IR license in a Japanese regional market, has C$886.5 million (about US$673 million) available for future acquisitions through treasury funds, credit facilities, access to funds in its acquisition entities and uncalled committed capital, a figure which is slightly higher than recent quarters.
The Clairvest Group of Canada, which has been exploring IR opportunities in Japan, has signed an MoU that would merge its South American casinos into a larger entity under the umbrella of Sun Dreams.
The Nihon Keizai Shinbun held its second IR seminar on March 5, this time in Sapporo, Hokkaido, before an audience of 367 people.
According to its 2018Q4 financial report, the Clairvest Group of Canada, now seeking an IR license in a Japanese regional market, had C$890.7 million (about US$668 million) of capital available for future acquisitions through treasury funds, credit facilities, and other resources, as of the end of 2018.
According to its 2018Q3 financial report, the Clairvest Group of Canada, now seeking an IR license in a Japanese regional market, has C$882.8 million (US$671 million) of capital available for future acquisitions through treasury funds, credit facilities, and other resources.
The partnership between Rush Street Gaming and the Clairvest Group which had endured since 2011 has come to an end after a third company, Churchill Downs, has bought the entire Clairvest stake in the Rivers Casino of Des Plaines, Illinois.
In addition to Clairvest and Hard Rock, both Rush Street Gaming and Mohegan are in the process of opening offices in Tomakomai city, Hokkaido, a report in the local newspaper, Tomakomai Minpo, has revealed.
It would appear that the competition to partner with the Tomakomai municipal government has now narrowed down to six serious suitors—Caesars, Hard Rock, Mohegan, Rush Street, Clairvest, and Foxwoods.
Several international IR operators have been meeting with members of the Tomakomai Chamber of Commerce & Industry to discuss their bids to partner with this northern Japanese city.