Pacific Islands

The Commonwealth Casino Commission says there will be no-limit on the number of junket operators allowed to do business in Saipan once the Imperial Pacific Resort and Hotel open next year.

Imperial Pacific International Holdings says it’s already accepting advance bookings from China and Japan for its new luxury resort scheduled to open on Saipan at Chinese New Year 2017. The company is counting on the new property to ease capacity restraints and unlock the island’s growth potential. 

The Commonwealth Casino Commission has asked Imperial Pacific if it still meets the required number of local hires amid recent resignations or terminations of local employees.

Saipan casino operator Imperial Pacific International says it will continue to abide by the conditions of its license agreement in regards to imported labor, local media reports. 

In a statement to local media, the company said: “[IPI] would continue to follow and meet what is required based on the exclusive casino license agreement. Currently the import labor is at 45 percent.”

The operator also said that gaming is the only division of the company where a large number of employees are foreigners.

Saipan’s gaming regulator has issued a provisional license to Korea-based junket operator, Big Bang Entertainment.

Imperial Pacific is set to offer a high-yield bond to investors in order to fund the construction of Grand Mariana integrated resort on Saipan.

Fitch Ratings says it expects to assign Imperial Pacific International Holdings Ltd a Long-Term Foreign-Currency Issuer Default Rating (IDR) of ‘B(EXP)’ with a stable outlook.

Imperial Pacific International Holdings has announced it has conditionally agreed to allot and issue a total of 1 billion shares to Ally High Limited at a subscription price of HK$0.15 per share.

Casino operator Imperial Pacific International Holdings is asking the US government to ease the visa cap for overseas workers in order to support its future casino.

VIP rolling chip turnover at Imperial Pacific’s temporary casino, Best Sunshine reached $1.6 billion in August, according to a filing to the Hong Kong Stock Exchange on Friday.