New Governor Arnold Palacios has ordered Saipan’s Commonwealth Casino Commission (CCC) to shut down its office effective January 18. The CCC’s executive director, told the newspaper Marianas Variety that the closure was a result of a lack of funding.
Palacios, who was inaugurated a week ago, said he had no choice but to shutter the CCC because of what he described as an “unprecedented financial crisis.”
The CCC received its $3.15 million operating costs from a lone source, the regulatory fee that was paid by casino operator Imperial Pacific International (IPI), But IPI has been in arrears since 2019. Because of that, the casino had its license suspended in April 2021 and could see it revoked in the near future.
All eight of the remaining staff members received their final check last week. Because CCC was closed, it complicates the current negotiations between the CCC and IPI. IPI is still trying to save its casino license but now has no one in government to work with on the issue.
Rep. Ralph N. Yumul, the chair of the House Gaming Committee, said they don’t intend to abandon the island’s casino industry. He said they also realize they will have to step in and try to settle the arbitration with IPI.
The former governor, Ralph DLG Torres, had approved money for court-approved arbitration and had someone tabbed as the mediator. The future of that process, however, is still very much in the air.
