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CNMI government opposes IPI’s asset sale citing creditors’ interests
The Commonwealth of the Northern Mariana Islands (CNMI) government has opposed Imperial Pacific International (CNMI) LLC’s motion to approve bid procedures for the sale of nearly all its assets, arguing that the proposed sale does not adequately benefit the creditors.
IPI ending its Saipan chapter as CNMI deems the firm is no longer viable
The Governor of the Northern Mariana Islands, Arnold Palacios, has noted that there is no more settlement procedure for its casino license with Imperial Pacific International, given its bankruptcy filing.
Analyst urges CNMI to increase minimum hotel room number requirement for operating EGMs
Policy analyst John Gonzales, member of Save Garapan, is urging the authorities in the Commonwealth of the Northern Mariana Islands (CNMI) to make minimum requirements to operate electronic gambling operations more strict.
Daily Asia Gaming eBrief: CNMI online gaming play is “desperate”: Ben Lee
The Commonwealth of the Northern Mariana Islands' (CNMI) latest move to legalize online gaming is just a "desperate attempt" to assuage the territory's financial woes, says expert Ben Lee. Due to the ongoing demise of Saipan's only IR property - Imperial Pacific International - the territory is now pulling out all the stops in an effort to raise funds. But worries compound over how legislation would be rolled out, and how comprehensive oversight can be.
CNMI proposal to legalize online gambling “another desperate attempt”: Ben Lee
The new proposal by the authorities in the Commonwealth of the Northern Mariana Islands (CNMI) to legalize online gambling “appears to be yet another desperate attempt to source new revenue for their pension black hole”, notes IGamiX Managing Partner Ben Lee.
CNMI Commission chases Imperial Pacific International for $25mil
The Commonwealth Casino Commission (CMNI) has asked the court to find Imperial Pacific International (IPI) incompliant pursuant to a previous commission order, requiring the casino operator to pay, over $25 million, in full, the Saipan Tribune reported.
Your Daily Asia Gaming eBrief: CNMI the location set of next Netflix drama, IPI
Check out the CNMI location set scouted by Fortuna Investments' Tim Shepherd for the next Netflix drama: Imperial Pacific, which has written off more debt in the past three years than the whole of the Las Vegas Strip in the past decade.
Imperial Pacific International facing $100million debt to CNMI government
Saipan-based Imperial Pacific International (IPI) is tipped to owe the CNMI government more than $100 million USD. Awaiting a further capital infusion from investors, Imperial Pacific International has missed payment on its license and regulatory fees for both the 2020 and 2021 periods.
CNMI needs to re-evaluate casino tourism policy after IPI fiasco, legislator says
It’s time for The Commonwealth of Northern Mariana Islands (CNMI) to re-evaluate its tourism policy to decide whether it really wants a casino industry after the “mess” created by Imperial Pacific International, says Democratic Party legislator Tina Sablan.
CNMI lawmaker wants to open island to 5 casino operators
Felix Ng -
CNMI lawmaker Ralph N. Yumul has introduced new legislation that would allow for up to five casino licenses in Saipan.