Senate President Jude Hofschneider (R-Tinian) has asked fellow senators to not only focus on the faults of Imperial Pacific International, reminding them that IPI paid a total of US$204.8 million in taxes and fees from 2015 to 2018. He said that the legislature should work with IPI to provide the company with what it needs. Meanwhile, IPI told the courts that it accepts Joyce Tang as its receiver. Also, IPI Chairwoman Cui Li Jie has been ordered to pay attorneys’ fees and costs in the amount of US$33,890 no later than March 5.
The world is bouncing back, or at least coming to grips with the fact that going forward not much will be the same as before. Commendably, this industry quickly understood the need to adapt to a new normal, and that the days of targeting the low hanging fruit of the VIP sector are gone.
Over the years, many of the answers have been remarkably prescient in their forecasts for the near-term direction of Asia’s gaming industry. However, we can safely say that no one came anywhere close to guessing what 2020 may have had in store.