IPI in trouble for partial license payment

Imperial Pacific
Imperial Pacific

Imperial Pacific International is in hot water with the Saipan government for only paying a third of its $15 million annual license renewal fee, which was due on August 12, 2019. 

Gov. Ralph DLG Torres told the Saipan Tribune over the weekend that he received information from the Commonwealth Casino Commission that IPI had only paid $5 million so far. 

With the casino company now “delinquent in their payments,” Torres noted that his administration is right now in the process of determining a legal and proper response.

On Monday, Executive director of Commonwealth Casino Commission Edward Deleon Guerrero filed a complaint against IPI for failing to pay its tax obligations. 

Guerrero told local reporters that IPI now has 15 days to pay its tax obligations in full, and an additional $502,570 adjusted for inflation.

“We have issued a complaint today that is going to the commission. That is the way we’re going to enforce this. Now IPI has 15 calendar days to cure the deficiency,” he said. 

In his complaint, Guerrero said that he may also impose a fine of $50,000 on IPI for violating the license terms. 

According to the casino license agreement, delayed or partial, or non-payment of the annual license fee constitutes a breach in the Casino License Agreement.

A breach in the CLA could result in license suspension or revocation. 

SHARE
Previous articleBBIN signs with Nova Esports as global partners
Next articleTravellers begins tender offer

Related Articles

More court actions against IPI over unpaid bills

Imperial Pacific International is facing additional court action in relation to the firm’s unwillingness or inability to meet its financial obligations. The CNMI Division of Revenue and Taxation collection branch has filed another tax lien notice, and the company is said to have not complied with the federal court order to pay plaintiffs’ attorneys’ fees in one of the cases against it.
IPI hotel construction hits a wall

IPI hotel construction hits a wall

The Commonwealth of the Northern Mariana Islands Department of Public Works (DPW) has informed Imperial Pacific International (IPI) that its hotel and casino project in Garapan, Saipan, is in violation of the Building Safety Code and must come to an immediate halt.

Revealed that IPI filed no approved resort construction plan

In the latest twist in the Imperial Pacific International saga, it has been revealed that the local authorities allowed construction of the Saipan casino resort without providing approved construction plans.

IPI accused of building code violations in casino resort construction

The Building Safety Code Division of the CNMI Department of Public Works recently notified Imperial Pacific International about alleged IPI violations pertaining to the ongoing construction of its casino resort.

IPI gets six-month extension to pay US$20 million

The Imperial Pacific casino has been been given a six-month extension for payment of US$20 million it owes the Northern Marianas government.

IPI has no right to avoid self-incrimination

A District Court for the NMI declared that Imperial Pacific International has no 5th Amendment right to avoid self-incrimination as she denied the firm's request to suspend the court proceedings in the lawsuit of seven construction workers who have alleged labor and other violations.

Commonwealth Casino Commission claims control over license revocation

Commonwealth Casino Commission Chairman Edward Deleon Guerrero claims that his body is the only one authorized to suspend or revoke the gaming license of Imperial Pacific International.
IPI asks to pay its overdue casino license fee in installments

IPI asks to pay its overdue casino license fee in installments

Cash-strapped Imperial Pacific International is making yet another proposal to the CNMI government; this time to allow it to pay its US$15 million annual casino license fee in installments. IPI has also requested that its license fee be slashed by 50 percent, include a smaller contribution to the community benefit fund, and provide for an […]
indecision over IPI

CNMI governor signals his indecision over IPI

CNMI Governor Ralph Torres has signaled his fundamental lack of direction on the question of how to handle Imperial Pacific International and its inability to meet its financial commitments. Although the governor had issued an official letter just last month informing the firm of his intention to suspend or revoke its casino license as a […]
Tax Office to trump Pacific Rim in IPI spoils

Tax Office to trump Pacific Rim in IPI spoils

A $9.4 million claim by the Commonwealth of Northern Marianas Islands’ tax department should come before the claims of former contractor Pacific Rim Development in a legal dispute, local media reports the Office of the Attorney General as saying.