AGB Nippon Executive Editor Michael Penn speaks to CNMI opposition lawmaker Tina Sablan about the ongoing saga over Imperial Pacific International. The Democratic Representative in the Northern Marianas Legislature makes clear that she believes that CNMI regulators dropped the ball and that the entire way that the issue has been handled raises concerns about the possibility of corrupt behavior.
“As soon as we catch up on our cash flow, we will also catch up on payroll,” a spokesperson for the casino resort in the Commonwealth of the Northern Mariana Islands told reporters.
The Coronavirus, now renamed as Covid-19, has devastated the near-term outlook for Asia’s casino operators, though analysts still expect demand to snap back sharply once the outbreak is under control. The big question is when that might be.
CNMI Governor Ralph Torres has given tepid verbal support for IPI to undergo financial suitability hearings “if this is something that Commonwealth Casino Commission needs to do in order to move forward.”
Acting Executive Director Andrew Yeom of the Commonwealth Casino Commission has filed another complaint against Imperial Pacific International, this time over the firm’s failure to pay the US$3.1 million annual regulatory fee that was due on October 1.
Imperial Pacific International has reportedly offered to pay half of its $15 million annual license fee now, with the remainder deferred until February next year due to the impact of Covid-19 on its business.
Another plaintiff is asking the court to enforce a settlement awarded against Imperial Pacific International, saying it has violated the terms of an initial agreement.
Imperial Pacific International’s newly appointed CEO Donald Browne has reportedly told members of the House of Representatives Gaming Committee that the government’s actions have made them feel unwanted on Saipan.
A key contractor in a legal dispute with Imperial Pacific International has again asked the federal court to order the U.S. Marshals Service to seize some of the company’s assets.
Imperial Pacific International has clarified that it wants exclusive rights to all gaming activities on the island of Saipan and is prepared to defend its position as the sole license holder.
Imperial Pacific International said the company is not part of an investigation into racketeering, harbouring illegal aliens and money laundering being carried out by the US Department of Justice.