Imperial Pacific Resort to open 17Q1

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.

In a voluntary filing from the operator on Wednesday, the company said the “‘Imperial Pacific Resort’ will commence soft opening in the first quarter of 2017.” Previously, it had worded the opening to be “by Chinese New Year.”

In its recent filing, the operator also added that construction of the resort is going smoothly, “with over 2,000 workers working around-the-clock to ensure early completion.”

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.

Earlier this week, the Saipan casino operator posted US$32.4 billion in unaudited VIP table games rolling chip turnover for the full-year 2016.

While VIP revenues have remained strong throughout the year, 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.

More news from this jurisdiction

Pacific IslandsMonday, Aug 07, 2017

Imperial Pacific Resort Hotel has announced the opening of DÁ Lounge, the hotel’s new cocktail lounge as the icon of the entire property.

Mainland China, Pacific IslandsSunday, Aug 06, 2017

The members of an online gambling gang were reportedly rounded up and returned to China from Fiji after Beijing sent a team to the island to investigate, according to media reports.

Pacific IslandsWednesday, Aug 02, 2017

Imperial Pacific International Holdings Ltd has announced amendments to its casino license agreement regarding timings for its initial gaming facility, as well as phase one and two integrated resorts.

Pacific IslandsMonday, Jul 24, 2017

Imperial Pacific International says it expects to complete the construction of its villas by January of next year, while 374 hotel rooms are expected to complete in August 2018.

Pacific IslandsWednesday, Jul 19, 2017

The CNMI Senate has formed a new committee to address gaming concerns on the island.

Pacific IslandsSunday, Jul 02, 2017

Imperial Pacific’s integrated casino resort in Garapan is set to open within the next two weeks.

Pacific IslandsThursday, Jun 29, 2017

Imperial Pacific International Holdings, operator of the Saipan casino resort, has announced new workforce rules banning any individuals who are not authorized to enter the construction site.