Imperial Pacific 16Q1 VIP business hits $6.1 billion

Hong Kong-listed Imperial Pacific International Holdings has reported its Saipan casino business raked in US$6.1 billion in VIP table game rolling chip turnover for the first quarter of 2016.

The “temporary casino” on Saipan, operating through its local unit Best Sunshine, says its VIP business saw a 30 percent increase in its monthly average at $2 billion, compared to $1.6 billion achieved in November and December.

Unaudited gross gaming revenue of the temporary casino for the quarter was $186 million, representing a 36 percent increase in monthly average compared to the last two months of 2015.

The $25 million gaming venue, which opened in November, has a total of 16 VIP gaming tables, 32 mass tables and 109 slot machines.

“The company is confident that it will continue to benefit from the trend of tourists exploring alternative gaming venues and believes that the Island of Saipan, a US commonwealth tropical island within easy reach of mainland China, Korea and Japan and where visa-on arrival entry for mainland Chinese visitors is available, is a compelling destination,” said the company in its filing.

Earlier this month, Imperial Pacific said it was selling its non-gaming assets to concentrate on its integrated resort business on Saipan.

The company said in previous filings it would spend as much as $7 billion on a casino resort on the island.