The Commonwealth Casino Commission in the Commonwealth of Northern Mariana Islands will discuss an application for four new junket operators on Thursday, together with a contract extension for Imperial Pacific International’s (IPI) chairman.
In a posting on its website, the CCC will also hear an update from IPI about progress in the construction of its resort on Saipan, including the opening of several luxury villas in September.
IPI Chairman Mark Brown’s contract is due to expire at the end of September and the regulator will discuss an extension for a further two years.
Four junket operators have made a request to operate on the island. They were named as American Bopan, managed by Mingyu Huang: P’Art Corp, with Jun Ho Park as president; Palm Tree Ventures, managed by Jian Hui Jiang and Tropical Sands managed by Zhan Hui Cui.
IPI, which is focused on the Asian high-roller market, has so far failed to attract the region’s major junket operators to its property. The resort, which is still far from completion, lacks the hotel rooms and facilities to cater to VIPs, with visitors placed in neighboring hotels and high-end yachts.
In the absence of meaningful junket play, IPI has extended direct credit to its clients, resulting in a spike in impairments.