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Gaming oversight body to discuss Imperial Pacific bankruptcy request and Tinian online gaming license bill

The Commonwealth Casino Commission (CCC) is scheduled to discuss updates on Imperial Pacific International (IPI) LLC’s Chapter 11 bankruptcy petition and a proposal to grant internet gaming licenses on Tinian for up to 20 years, during their meeting on Thursday.

The CCC is the casino gaming regulatory agency of the Commonwealth of Northern Mariana Islands (CNMI).

According to a Saipan Tribune report, the meeting will include an executive session where the commissioners will consult with their legal counsel about IPI’s Chapter 11 (reorganization) and Chapter 7 (liquidation) proceedings.

IPI officially filed for Chapter 11 bankruptcy on April 19th, owing creditors over $160 million. 

This month, IPI creditors notified the US District Court for the Northern Mariana Islands of their intention to file a motion seeking dismissal of the casino investor’s Chapter 11 bankruptcy petition, alleging abuse of the bankruptcy process.

The top three creditors with the highest judgments against IPI are CNMI Treasury, MCC International Saipan, and the CCC itself.

The meeting will take place at 10:30am on May 30th in the Commission’s conference room at Springs Plaza in Gualo Rai. Currently, the CCC has only three members, board chair Edward C. DeLeon Guerrero, vice chair Rafael S. Demapan, and commissioner Mariano Taitano.

In response to an inquiry from the Saipan Tribune, Demapan confirmed that despite the absence of commissioners from Tinian and Rota, the three Saipan-based commissioners constitute a quorum.

The terms of commissioners Ramon M. Dela Cruz of Tinian and Martin Mendiola of Rota expired on April 30th, and Governor Arnold I. Palacios has yet to nominate their replacements.

Under new business, the commissioners will also discuss Senate Local Bill No. 23-05, introduced by Senator Jude U. Hofschneider (R-Tinian). The bill seeks to grant internet gaming licenses on Tinian for up to 20 years and proposes amendments to the Commonwealth Code to ensure regulatory compliance for internet gaming.

Tinian, Saipan, Northern Mariana Islands
AGBrief Editorial
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The AGBrief Editorial Team is a group of contributors living around the world that are connected to Asia Gaming Brief. They are active members in pursuing the sources of our news, making them reliable and accurate for our readers.

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