Imperial Pacific International will ask for more time to finish developing its casino on the South Pacific island of Saipan. The eponymous Imperial Pacific Resort is the only gaming hall in the Commonwealth of the Northern Mariana Islands.
Last year, the company requested the first 10-month extension. The Commonwealth Casino Commission granted that request and ordered that the resort be completed by no later than August 31 of this year. In its 2017 annual report, released last month, IPI asked for more time. “Due to delays in the construction progress, the group has notified the relevant CNMI government authorities of its intended application to extend the deadline to complete the initial gaming facility.”
Inside Asian Gaming reports that IPI is expected to complete a minimum of 329 hotel rooms, 14,140 square meters (152,200 square feet) of gaming floor and other elements by the August deadline. The company said it’s invested US$650 million in the resort to date, and added that “major global construction companies, consulting firms, design and engineering firms as well as local sub-contractors are engaged.”
However, it said, “The board does see certain delays in construction mainly due to labor issues caused by the main contractor and several subcontractors and to a lesser extent unfavorable weather conditions.”
The reference to weather includes Typhoon Soudelor, which struck the island with punishing force in August 2015. But with construction “already back on track, the board believes that the issue will soon be resolved and cease hindering the progress of the project,” IPI said.
The company also announced that it is preparing to bring its first outside junket operators to the property. Commissioners are currently investigating a number of overseas junkets.
“With the gaming capacity to be further enhanced, we expect to commence collaboration with gaming promoters after they are granted junket operator licenses to operate on the Island of Saipan,” IPI said. “Due to CNMI’s lower tax regime, we believe we will be able to offer very competitive commission rates to our gaming promoters.”
