Embattled Saipan casino operator Imperial Pacific International (IPI) has lost yet another CEO. On February 2, interim CEO Ray Yumul announced he would leave after a year in the role.
According to the Saipan Tribune, in a letter informing IPI of his decision, Yumul said it was a “pleasure and honor” to succeed former CEO Donald Browne, who quit in December 2020.
His departure was not without conflict. Inside Asian Gaming reports he resigned just days after “a heated exchange” with members of the Commonwealth Casino Commission (CCC) over IPI’s failure to remove a crane from the site of Imperial Palace Saipan. Yumul also threatened to reveal details of past dealings between the company and local politicians at an upcoming meeting in March. At that meeting, the CCC will decide if it will revoke IPI’s casino license.
Reportedly, Yumul told commission members to “go to hell” during recent discussions. He later apologized.
In yet another twist in the IPI saga, CCC Executive Director Andrew Yeom reportedly told the Saipan Tribune last week that it had never granted IPI’s application for Yumul to be its CEO.
Officials have considered licensing other operators in Saipan, but IPI currently holds a monopoly, and revoking its license may be unconstitutional.
