Imperial Pacific International does not oppose having the Commonwealth Casino Commission suspend its casino gaming license, admitting its failure to pay the US$40 million Community Benefit Fund contribution in 2018 and 2019, and failing to pay the US$15.5 million annual casino license fee, as required by the Casino License Agreement. Meanwhile, it has been acknowledged that Ray N. Yumul is not yet legally recognized as IPI CEO in Saipan.
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.