• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Sunday 11 May 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Saipan politician calls for more casino licenses amid Imperial Pacific woes

Newsdesk by Newsdesk
Wed 22 Aug 2018 at 06:38
Imperial Pacific Resort
Print Friendly, PDF & Email

A Saipan politician has called for the island’s gaming law to be revised to allow for more casino licenses to be issued amid growing concerns over the future of Imperial Pacific International’s (IPI) Imperial Pacific Resort.

Speaking to the Saipan Tribune this week, Rep. Edwin K Propst expressed grave doubts over the health of Saipan’s sole casino resort following lengthy construction delays, reports of ongoing payroll problems and the departure of two key executives over the past week.

“Because there’s only one licensee, perhaps we should revisit that and allow other casinos to compete,” Propst said. “Competition is good.

“Factoring all the recent events, we need to be very concerned about the future of our casino, because they are not just one competitor. This is a sole source, single license. It is a monopoly.

“It’s one thing if there were competitors and one was not doing well, while the other is thriving. But that’s not the case here. The frustration is that because if there’s only one license, if it fails, the entire casino industry fails.”

IPI was last week forced to issue a statement promising to pay all staff after experiencing “transfer issues” to fund the company’s payroll. The company also farewelled Chairman Marco Teng last week after seven months in the role, while Cai Lingli – a relative of majority owner Cui Li Jie – stepped down on Monday as a director of the company and chairperson of the executive committee.

Propst said that he wanted to see Imperial Pacific Resort succeed but suggested safeguards needed to be implemented after IPI revealed recently that it will miss its latest 31 August 2018 deadline for completion of the IR.

“I want the casino industry on Saipan to thrive but I also want it to be properly regulated and to follow all laws – local, federal, and environmental laws,” he said. “The fact that the casino license agreement has been amended five times to benefit the casino without benefitting the people is disappointing.

“The CNMI government must renegotiate its terms to include at the very least a completion or performance bond to ensure the casino hotel overlooking Garapan will be completed, even if IPI decides to leave or suspend their business operations.”

RelatedPosts

Inside Thai IRs

Thailand to postpone parliamentary debate on casino bill

Tue 8 Apr 2025 at 18:57
NagaWorld

GGR at Cambodia’s NagaWorld up 17.7% to US$171 million in 1Q25

Tue 8 Apr 2025 at 06:29
Grand Korea Leisure’s casino revenue jumps almost 28% in March

Grand Korea Leisure’s casino revenue jumps almost 28% in March

Thu 3 Apr 2025 at 13:16
Korea’s Paradise Co suspends Seoul casino operations as national COVID cases grow

Korea’s Paradise Co reports 15% sequential increase in casino revenues to US$55 million in March

Wed 2 Apr 2025 at 18:28
Load More
Tags: casinoCNMICui Li JieEdwin K PropstImperial PacificImperial Pacific InternationalIPIlicenses
Share2Share
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – The real reason Philippines casino revenues are down

Editorial – The real reason Philippines casino revenues are down

by Ben Blaschke
Sun 30 Mar 2025 at 23:04

After enjoying a post-COVID surge in gaming revenues at its licensed casinos, the Philippines has hit a rocky patch. In...

Inside Thai IRs

Inside Thai IRs

by Andrew W Scott and Ben Blaschke
Sun 30 Mar 2025 at 22:59

No time to read this whole article? Here are the bullet points! With passage of Thailand’s Entertainment Complex Bill through...

Resorts World Las Vegas – Lighting up the north

Resorts World Las Vegas – Lighting up the north

by Andrew W Scott and Ben Blaschke
Sun 30 Mar 2025 at 22:52

Inside Asian Gaming recently visited Genting’s American icon Resorts World Las Vegas to take a closer look at a property...

A baccarat perspective

A baccarat perspective

by Ryan Hong-Wai Ho
Sun 30 Mar 2025 at 22:37

In the first of a two-part series, Ryan Ho explores how gaming innovations and market changes have shaped the prominence...

Evolution Asia
Aristocrat
GLI
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

Bally’s Chairman Soo Kim talks after deal sealed to acquire Australia’s Star Entertainment

Bally’s Chairman Soo Kim talks after deal sealed to acquire Australia’s Star Entertainment

by Newsdesk
Wed 9 Apr 2025 at 06:16

Star Entertainment Group confirmed Monday it had entered into a binding term sheet with US casino operator Bally’s Corp to take control of the company as part of a US$300 million (US$180 million) deal. The term sheet, comprising a multi-tranche...

China-owned contractor of Chow Tai Fook’s Baha Mar ordered to pay US$1.6 billion to original owner for “many acts of fraud”

New York appellate court dismisses China Construction America’s appeal in US$1.6 billion Baha Mar fraud case

by Ben Blaschke
Wed 9 Apr 2025 at 05:59

A New York court has dismissed an appeal by China Construction America, Inc (CCA) against a Supreme Court ruling in October requiring it to pay US$1.6 billion to the original owner of Bahamas casino resort Baha Mar for committing “many acts...

Trade union warns massively increased casino pokies tax in NSW will cost jobs

Pub baron Bruce Mathieson agrees additional AU$100 million Star investment, reduces Bally’s contribution to AU$200 million

by Ben Blaschke
Wed 9 Apr 2025 at 05:40

Star Entertainment Group’s largest individual shareholder Investment Holdings Pty Ltd has entered into a binding term sheet with US casino operator Bally’s Corp that will see it subscribe for AU$100 million (US$60 million) in convertible bonds, reducing in the process...

RWLV names former MGM executive Greg Shulman as EVP of International Marketing

RWLV names former MGM executive Greg Shulman as EVP of International Marketing

by Newsdesk
Wed 9 Apr 2025 at 05:35

Genting Group’s US flagship Resorts World Las Vegas (RWLV) has announced the appointment of casino industry veteran Greg Shulman as Executive Vice President of International Marketing. Continuing the property’s recent management overhaul, RWLV said Shulman will lead its international casino...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • English