The sale of gaming Assets belonging Saipan’s embattled casino operator Imperial Pacific International (IPI), continues on Friday 6th January, with the 3rd Auction, following on from successful auctions over the last few months conducted by Clear Management acting as Limited Receiver.
Danny Ewing, Clear’s Director of Operations told AGB: “Whereas Auction 1 and 2 were about moving working and unused equipment and simple-to-sell gaming tables and chairs, subsequent Auctions are going to require us to make good and clean equipment to get the best price from bidders. Auction 3 marks the last of the auctions of equipment that is good to go without work from the Clear team.”
On how the auctions were proceeding Ewing said “We have been surprised by the quality and geographic spread of the bidders. Bottom feeding bidders have not been successful and professional bidders have all come in with bids very close to each other in dollar terms, so we know we are getting the best deal available for the creditors of IPI.”
The project remains a challenge “no electricity, security team now down to a solitary sole – often unpaid for weeks – and dank humid conditions, really awful.” Ewing continued “Throughout however the Commonwealth Casino Commission have been supportive and highly professional and we thank them for all their diligence in what must be very difficult circumstances for them.”.
Auction 3 takes place on January 6th via closed bids by email to [email protected] and includes a wide range of gaming equipment, slots, roulette wheels and the entire chip inventory of the casino.
