Ten-year build-out
IH Group has announced plans to build a $10 billion casino resort on Rota, in the Northern Mariana Islands, pending approvals from the island government. The proposed 1,100-room hotel and casino will take a decade to complete, according to Gambling Insider.
Il Hwan Kim of IH Group sent a letter to Rota Mayor Edward Atalig Hocog Jr. saying the company will file the necessary applications to win a gaming license in the market; if approved, he said, construction of the resort could begin in 2017.
The first phase would be a $1 billion hotel casino with 500 rooms. Over time, IH would add a second hotel with 500 more rooms as well as 100 cottages, shopping facilities, a cruise ship and “airline services,” reported GI.
Atalig has already endorsed the proposal, in which IH will partner with IH Corp., KSA Corp. and Island Paradise Hotel.
“I would like to thank you and the municipality of Rota for allowing us to share our vision for the island of Rota,” Kim wrote to the mayor. “The Kim family and company vice president Edward A. Hocog are truly grateful for our partnership.
“We look forward to your assistance and support in regards to IH Group’s project as this will improve and enhance Rota’s socio-economic development and prosperity for the island of Rota and its people.”
