Embattled Saipan casino operator Imperial Pacific International (IPI), on the ropes with regulators for years due to malfeasance, missed construction deadlines and multiple past-due fees, may now be down for the count.
According to local media, Governor Ralph Torres of the Commonwealth of the Northern Mariana Islands (CNMI) said on May 28 that if IPI doesn’t pay its debts, lawmakers may have to “take the next step and move on.”
IPI is unable to pay a $15.5 million annual casino exclusive license fee, a $3.1 million annual casino regulatory fee and a $6.6 million penalty. It was recently ordered to pay $5.9 million in damages to seven construction workers who claimed they were lured to the island under false pretenses, then subjected to abuse.
“As of now, I hope that they can take care of their arrears and continue to do business here. But if not, then we have to take the next step and we move on,” the governor said.
According to GGRAsia, as a result of the past-due payments, the Commonwealth Casino Commission (CCC) is dealing with a serious budget crisis and may even be dissolved. With Imperial Pacific Palace closed due to Covid-19 and its license in jeopardy, there is currently no operation to oversee.
