The receiver appointed to auction off assets owned by troubled Saipan casino operator Imperial Pacific International (CNMI) LLC has launched its latest sell off, this time for IPI’s collection of Rolls Royce cars and its famed Crystal Dragons. The online auction by Clear Management Ltd began on Monday 18 March and follows the recent sale of IPI’s high-end liquor.
“We launched the auctions of the Crystal Dragons and the vehicles on 18 March at saipanauction.com,” said Danny Ewing, the former IPI employee who is now Operations Director of Clear Management.
“IPI only bought world class assets as their vision was to match Macau and Singapore in opulence and VIP gaming. Even though the assets are a few years old, the quality has kept them valuable.
“We have had a lot of interest in the two Rolls Royce Ghost Extended as they have been kept in great condition and although 2017 models, have been driven less than 10 000 miles between them.
“We expected strong interest in these from CNMI and Guam but what has surprised us is the interest from the Philippines and mainland USA. Unlike past auctions these will be live and online where bidders can see bids in real time.”
Ewing added that the first vehicle auction closes on 11 April with the Crystal Dragon auction closing on 22 August this year.
“The Crystal Dragons (which adorn the lobby of Imperial Palace • Saipan) are unique art pieces and deserve a 5-star setting,” he said. “All discussions to date have been with potential buyers in the Middle East.”
The latest auctions come with IPI engaged in revocation hearings with the Commonwealth Casino Commission (CCC) over the future of its Saipan casino license. The CCC first filed five complaints against IPI in 2021 for failure to comply with certain requirements under its license agreement, including failure to pay its annual US$15.5 million license fee in August 2020, failure to pay its annual US$3.1 million regulatory fee in October 2020, failure to contribute US$20 million to the community benefit fund in both 2018 and 2019, failure to comply with its minimum US$2 billion capital requirement and failure to comply with a CCC order to pay all money owing to its vendors.
IPI’s license has been suspended since April 2021.
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