The game of executive musical chairs continues at Imperial Pacific International, which operates the Imperial Pacific Resort on the island of Saipan.
Xia Yuki Yu, who replaced former chairman Cai Lingli in August 2018, is out after only five months in the position. She has been replaced by Cui Li Jie, an executive director of the company since 2017.
According to a filing cited by Asia Gaming Brief, Cui has worked on real estate projects and in building materials trading and has lengthy experience in investment. IPI said Cui will be subject to retirement by rotation at least once every three years and that there is no service contract between the two, AGB reported.
There’s been a mass exodus of executives from the company in recent months including Marco Teng, a former HR manager who was serving as chairman; Cai Lingli, a senior executive and board director who also served in the chairman role; CEO Henry Cheang, who resigned after less than a year; and former Donald Trump protégé Mark Brown, who has since returned in the role of interim chairman.
The company holds a monopoly on gaming on Saipan, a U.S.-controlled territory in the Commonwealth of the Northern Mariana Islands. Its lavish, still-unfinished resort have raised concerns for several reasons: the use of illegal foreign workers, which led to an FBI probe; the inability to make payroll on time; and millions in uncollected VIP debt. Last year, Saipan Rep. Edwin Propst called for an end to the company’s monopoly on gaming in the CNMI, citing “telltale signs that the casino is having serious problems.”
