Pacific Islands

Saipan casino operator Imperial Pacific International says it is happy with the progress of the 902 Consultations between the CNMI and federal governments.

Fitch Ratings has downgraded its rating for Hong Kong-listed Imperial Pacific International Holdings Limited, after concerns it has still not yet secured sufficient long-term funding for the construction of its casino and resort.

Saipan casino operator Imperial Pacific International Holdings has seemingly pushed back the opening of its new casino resort to the first quarter of 2017, deferring its earlier planned CNY opening.

Imperial Pacific International Holdings has posted US$32.4 billion in unaudited VIP table games rolling chip turnover for the full-year 2016, according to the company’s filing to the Hong Kong Stock Exchange.

A bond offering that Imperial Pacific was planning to use to fund construction of its Saipan casino has been put on hold, according to sources.

Saipan’s Labor Secretary Thomas E. Perez has requested for the federal court to issue a warrant to inspect the construction site of Imperial Pacific Resort in Garapan after an Occupational Safety and Health Administration was denied entry, Saipan Tribune reports.

Imperial Pacific’s temporary casino in Saipan raked in US$1.7 billion in VIP rolling chip for the month of November, according to its filing to the Hong Kong Stock Exchange.

Imperial Pacific International Holdings Ltd., the operator of a casino in Saipan, may see a downgrade in its credit rating at Moody’s Investors Service.

Commonwealth Casino Commission officials have praised the efforts made by Imperial Pacific in hiring and training the local workforce in line with its employment plan and federal requirements.

Commonwealth Casino Commission executive director Edward Deleon Guerrero has defended recent claims brought by a Bloomberg report against Best Sunshine in Saipan, saying it is complying with all federal AML laws.

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