Tinian casino under fire from regulators
Senators in the Marianas Island voted to approve Senate Bill 19-36 1 which aims to encourage investments on Tinian and Rota, reported Marianas Variety. The amendment would open the door to casino investors, who were not eligible for incentives under similar legislation developed in 2000.
The bill now goes to the House. Senator Francisco M. Borja, who authored the legislation, said investors need even more incentives to consider doing business on Tinian and Rota, which are more remote than Saipan. The voters on those islands have already legalized casino gaming, but the Rota casino did not last long before closing, and Tinian Dynasty, which opened in 1998, continues to struggle amid a possible change in ownership.
Lucia Blanco-Maratita, executive director of the Tinian Casino Gaming Control Commission, said Dynasty has been non-compliant with the Tinian Gaming Act. “Unfortunately, the Tinian Dynasty has become a rogue casino” that has refused to allow regulators to view its books. “My job is to protect the public, to protect the people of Tinian. That is what needs to be done and what I am going to do.” Blanco-Maratita has suggested that the casino may owe the municipality and taxpayers up to $20 million; if it does not comply soon, she warned, “We will have to shut it down and ask prosecutors to institute criminal proceedings.”
Dynasty has thus far remained mum about the criticisms. According to a February report from Casino News Daily, Chinese Strategic Holdings Ltd. hopes to take over the Dynasty from current owner, Tinian Dynasty Hotel and Casino, Hong Kong Entertainment (Overseas) Investments Ltd.
The casino could see some new competition in the market. Alter City Group, a casino investor on Tinian, is interested in applying for a qualifying certificate, which would offer financial incentives that would reduce its construction costs for a casino-hotel on Tinian, Managing Director Ken Lin has confirmed.
