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.
