Imperial Pacific 2016 VIP turnover totals US$32.4 billion

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.

In November, the Saipan temporary casino reported US$1.7 billion in VIP rolling chip turnover.

While monthly VIP revenues have remained strong, the operator hit a snag after it was revealed that a bond offering that it was planning to use to fund construction of its Saipan casino had been put on hold.

According to the news outlet, the firm had planned to raise between US$200 million to US$400 million, but investors wanted a higher yield than the 10-11 percent that that company was willing to offer, said sources quoted by Bloomberg.

The company is currently building the Imperial Pacific Resort & Hotel on Saipan, with phase 1 of the development project expected to be completed in early 2017.

The casino resort will include more than 200 gaming tables and over 350 slot machines. The 14-storey hotel building will offer more than 340 opulent hotel suites including 15 deluxe villas.

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The company behind the $130-million Tinian Ocean View Resort and Casino has launched an online petition seeking support after the denial of a Master Siting Permit.

Pacific IslandsFriday, Feb 10, 2017

Fitch Ratings says it has not assigned a rating to Imperial Pacific International Holdings Limited's issuance of its US$70 million 8.5 percent per annum unsecured notes which was announced Wednesday.

Pacific IslandsMonday, Feb 06, 2017

Saipan casino operator Imperial Pacific says its temporary casino raked in US$5.6 billion in VIP table games rolling in January 2017.