Poor regulation undermines CNMI gaming industry

imperial casino

“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. One could be forgiven for assuming the above quote was made this week in reference to the beleaguered Imperial Pacific International (IPI), but, in fact, it comes from an Asia Gaming Brief report published in April 2013 in reference to the Tinian Dynasty Hotel & Casino. That same month, US government agents temporarily shut down Tinian Dynasty, arresting two executives, charging the casino with failure to file reports on large cash transactions with its customers. In June 2015, the US government fined the Tinian Dynasty and its owner, Hong Kong Entertainment (Overseas) Investments, US$75 million for “willful and egregious” violations of anti-money-laundering rules. Tinian Dynasty, which had opened in 1998, finally sputtered to a close in the following months,...

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