Good Morning. A new chapter appears to have opened in the long-running saga of Saipan’s monopoly casino operator. Imperial Pacific International claims it has reached a settlement with the local regulator and is actively planning to reopen its casino in November. That’s as may be, but Ben Lee, management partner of IGamiX Management & Consulting, said there are still many question marks, not least the viability of its business model. The island’s tourism is not geared up for such a large-scale luxury resort, especially since China’s crackdown on capital outflows and jurisdictions that target its nationals for gambling.
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DEEP DIVE
IPI eyes reopening, though the business model in doubt
Imperial Pacific International (IPI) says it’s on track to reopen its casino on Saipan in November, though there remains significant doubt over its future and over the feasibility of its business model. IPI says it has made significant progress in its talks with the regulator and expects to sign an agreement by the end of June. It said in its annual report that it’s actively planning for a reopening of the casino in November, but industry insiders are skeptical. “There has been a litany of broken promises from this company,” said Ben Lee, managing partner of IGamiX Management & Consulting.
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