In a clutch of new developments in Saipan, the Commonwealth Casino Commission Chairman Edward C. Deleon Guerrero questioned Imperial Pacific International’s financial suitability to maintain its casino license, noting that should the license be suspended and sufficient remedial action not taken, the license may be automatically revoked. Also being questioned is IPI’s leadership, including both the new CEO and the chairwoman. Meanwhile, the CNMI Department of Finance’s Division of Revenue and Taxation has submitted three notices of tax lien against all the properties and rights to property of IPI.
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.