Imperial Pacific International (IPI), the operator of the shuttered Imperial Palace Saipan casino, claims it expects to reach an agreement with the Commonwealth of the Northern Mariana Islands’ (CNMI) Casino Control Commission (CCC) to reopen the casino by the first quarter of 2023.
The claim surfaced in a stock exchange filing by the company. IPI is proposing that the Commonwealth replace its annual license fee with a license fee based on percentage of net profit. IPI would also like to detach the regulation and operation of the hotel from the casino.
IPI is also lobbying for waiver or forgiveness of license fees it was assessed in 2020 and 2021. It also seeks to have a CNMI Supreme Court case dismissed, and the dropping of an order by the CCC for the casino to cease operations due to outstanding fees totaling more than $25 million.
There is no indication that the CCC or Supreme Court will agree to these conditions, IPI conceded, but it added that a response from CCC is expected “in due course.”
