Global gaming executive Mark Brown last week resigned his post as CEO of troubled Saipan casino operator Imperial Pacific International (IPI). It was his second exit in as many years—Brown quit the same post in December 2017 for what he called “family reasons,” but less than a year later, came out of “retirement” to become interim chairman.
Saipan is part of the Commonwealth of the Northern Mariana Islands (CNMI), a U.S. territory. According to Marianas Variety, IPI is now undergoing a “reorganization,” and revealed that Brown’s authority as CEO did not include critical matters such as construction and fiscal management.
Legal, regulatory, and financial problems have dogged IPI almost since it opened as a temporary facility in 2015. According to a 2018 report in Forbes, IPI initially reported “stratospheric VIP volumes” under Brown, but later was forced to write off billions in player debt. It’s also failed to complete its resort hotel in Garapan, Saipan’s central tourist district, and has been unable to meet its financial obligations to the local government.
Brown’s resignation, effective December 8, came days after the departure of Phillip J. Tydingco, a lawyer who had been representing IPI in a number of legal cases.
Variety cited Edward Deleon Guerrero, executive director of the Commonwealth Casino Commission (CCC) on Saipan, as saying the search for Brown’s replacement is already underway. Guerrero also said Brown was a no-show at the CCC’s monthly meeting, leading Chairman Juan Sablan to say he might “need to subpoena” Brown to ensure his attendance.
Brown’s most recent exit comes just one month after FBI agents raided IPI’s offices as part of a federal investigation into alleged wire fraud, money laundering and illegal campaign contributions involving CNMI Governor Ralph Torres.
