Pacific Islands

When Hong Kong‐listed Imperial Pacific said it would double its planned investment on Saipan, a tiny Pacific territory that forms part of the Commonwealth of Northern Mariana Islands, it’s fair to say eyebrows in the industry were raised. However, with a temporary casino now generating about $2 billion a month in rolling volume, investors are starting to see the appeal. AGB sat down with Imperial Pacific CEO Mark Brown to hear more.

 



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The CNMI Department of Labor has filed a lawsuit against Hong Kong Entertainment (Overseas) Investments Ltd for allegedly failing to comply with their settlement agreement in relation to the non-payment of wages to Dynasty’s workers.

Imperial Pacific said its temporary casino on the island of Saipan generated VIP table roll of $2.52 billion for May, down from the $3.18 billion generated in April.

The Financial Action Task Force has included casinos as money laundering risks since 2003, allowing more than 12 years for countries to implement effective controls in accordance with its recommendations.

The Financial Action Task Force has included casinos as money laundering risks since 2003, allowing more than 12 years for countries to implement effective controls in accordance with its recommendations. However, there have been mixed results across Asia.

 



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Imperial Pacific International Holdings Ltd. has announced its executive director Yuki Yu Xia has increased her shareholding in the company.

Hong Kong Entertainment, operator of Tinian Dynasty Hotel and Casino has had its casino license canceled, local media reports.

Tinian Mayor Joey Patrick San Nicolas said the operator could not meet the standards set by law.

With the cancelation, the Municipality of Tinian now has three available casino licenses.

The decision was made by the gaming commission during a special meeting on Wednesday, with a 5 to 0 vote in favor of executive director William Cing’s recommendation, who said

Aided by its natural beauty, remote location and China-friendly visa policies, a temporary casino on the tiny island of Saipan in the Commonwealth of Northern Mariana Islands is reporting a roaring trade, especially in VIP clients.

Tinian’s Mayor Joey P. San Nicolas says there has been serious interest from an investor who is willing to work with the Tinian Casino Gaming Control Commission towards being found suitable to assume ownership of the now closed Tinian Dynasty Hotel and Casino.

Hong Kong-listed Imperial Pacific said its temporary casino on the island of Saipan has reached saturation point after pulling in a total VIP table games roll of $6.1 billion in the first quarter.

Hong Kong-listed Imperial Pacific reportedly met with officials from ratings agencies Fitch Group, Moody’s and Standard and Poor’s last week, local media reports.

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