IPI Seeks Funding to Reopen Saipan Casino

Sat, May 21, 2022

IPI (Imperial Pacific International LLC) has signed an agreement with the IH Group of South Korea, in which IH commits to provide funds that will allow IPI to complete its Imperial Palace Casino (l.) on Saipan.

IPI Seeks Funding to Reopen Saipan Casino

Imperial Pacific International LLC says it has signed a memorandum of agreement with the South Korean IH Group to provide it funds to finish and reopen its casino in Garapan, Saipan.

The agreement comes as IPI fights to retain its license to operate as casino in Saipan. On May 24 the Commonwealth Casino Commission will consider a recommendation by its executive director, Andrew Yeom, that IPI’s license be revoked.

Yeom cites the company’s inability to pay license and regulatory fees and filature to comply with a working capital requirement.

IPI’s Imperial Pacific casino in Saipan lies uncompleted.

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