IP: Six Months to Saipan Resort

Imperial Pacific International will spend up to US$7 billion on a casino resort on Saipan, and build the complex within six months. The resort will include two hotels as well as a 200,000-square meter gaming hall.

Construction to begin in Q3

Former frozen food business Imperial Pacific International will spend as much as US$7 billion to develop a casino resorts on the Pacific island of Saipan. It has fast-tracked the project and says it will be complete within six months of the groundbreaking.

According to GGRAsia, an indirect wholly owned subsidiary will construct the resort. Imperial Pacific International LLC has signed a 25-year lease for a 59,000-square-meter (635,071-square-foot) parcel of land at Garapan in the Northern Mariana Islands, a U.S. Pacific territory.

“It is expected that construction work for the two town hotels and a casino with a total area of approximately 130,000 square meters would commence in the third quarter of 2015 and would complete within six months,” said the company filing.

The complex will include a 250-room five-star hotel, a 2,200-square-meter casino, and a second hotel.