Imperial Pacific denies report of U.S. regulatory probe

Imperial Pacific International Holdings Ltd has denied it is being investigated by U.S. regulatory authorities regarding the large volumes of cash going through the casino.

On Monday, an article from Bloomberg alleged the Saipan casino had earned the suspicion of the  U.S. Treasury's Financial Crimes Enforcement Network because of its significant financial flows.

However, a recent filing from Imperial Pacific says; “The group has never received any investigation notice from the U.S. Treasury’s Financial Crimes Enforcement Network.”

The operator also defended claims that its high VIP rolling chip volume was “suspicious,” noting a consistently strong patronage of its casino floor since 2016, with “visitor headcounts at never [being] below 300.”

“As there are only 38 gaming tables in the casino and each table is able to serve 5 to 6 customers at the same time, our service capacity has saturated. Each night, around 100 customers could not be arranged with a seat and had to queue or stand to participate,” said the operator.

Last month, the company reported its temporary casino raked in $3.8 billion in VIP table games rolling.

According to the company’s filing to the Hong Kong Stock Exchange on Wednesday, the results were just shy of its record $3.95 billion in VIP rollings in September.

The company resumed the trading of its shares on Wednesday, November 16, 2016.

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A mass exodus of workers on the Imperial Pacific Resort construction site could mean more delays are in store for the casino-hotel, which is aiming to complete construction by August 2018.

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The Commonwealth Casino Commission is recommending to set the maximum fine imposed on Imperial Pacific International to $200,000.

Pacific IslandsMonday, Nov 20, 2017

The House of Representatives is looking at increasing the maximum fine that can be imposed on players, licensees, vendors and employees of Imperial Pacific International under a new bill, local media reports.

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Slot machines owner Sin Ho Nam and operator Dan Bin Choi LLC are suing the CNMI government over new zoning restrictions that have forced the company to relocate its slot machines.

Pacific IslandsTuesday, Oct 31, 2017

A “wind-up” petition has been filed against Imperial Pacific International over allegations that the company defaulted in paying construction management fees of approximately HK$2.6 million (US$333,284)

Pacific IslandsWednesday, Oct 25, 2017

Saipan casino operator Imperial Pacific International says it has invested over half-a-billion dollars into the CNMI local economy.

Pacific IslandsMonday, Sep 25, 2017

37 illegal workers who worked on Imperial Pacific’s casino and hotel have refused an offer to be paid and sent back home to China.