Government seeks new investors
The island of Tinian in the Northern Marianas chain has not collected any revenue since its only major funding source, the Tinian Dynasty Casino and Hotel, closed last year, according to a report in Marianas Variety.
The newspaper, cited in a report in the Asia Gaming Brief, initially said Tinian Dynasty would reopen December 15, then April 15. Now Tinian Mayor Joey Patrick San Nicolas says the resort will open during the island’s annual Fiesta celebration, April 28-30.
The property closed in 2015 after Typhoon Soudelor blew through the area, disrupting transportation to the island. Earlier this year, the U.S. attorney for the Districts of Guam and the Northern Marianas announced that operator Hong Kong Entertainment must forfeit $2.5 million following a criminal investigation that uncovered millions in unreported cash transactions. It was the largest forfeiture in NMI history, reported Variety.
Since then, HKE has filed for bankruptcy, and Lucia Blanco-Maratita, executive director of the Tinian Casino Gaming Control Commission, says the property cannot reopen until Spectrum Gaming verifies it will be on the island and in charge of management. “HKE is not interested in reopening the casino,” said General Manager Christopher Bishop, who added that the December re-opening was postponed because gaming commissioners failed to inspect the property. A new owner, Tinian Entertainment Company, has since filed for a casino application on the island.
Meanwhile, Macau-based Alter City Group, which has won a license to run a casino on Tinian, could open a temporary casino as its HK$10 billion (US$1.28 billion) mega-project is developed, according to the Macau Business Daily. The company cannot proceed without an amendment to the Tinian Gaming Act, according to the Saipan Tribune, but Alter City Managing Director Ken Lin says the company is eager to start on the project. “We won’t just have a piece of paper living in our drawers for the next few days. We want to get that going,” Lin recently told the Tribune. “Hopefully, we can … explore the options such as a temporary casino or the training center here on Tinian, and get that industry back again.” Blanco-Maratita says commissioners will make a decision on Alter City’s suitability as an operator in the coming months.
The Macau-based real estate firm has proposed a theme park and casino complex with 6,000 hotel rooms, villas and apartments as well as an 18-hole golf course and luxury retail shops. The planned Plumeria Golf and Casino Resort will be set on a 152-hectare (376-acre) parcel in Puntan Diablo. Its lease agreement with the Department of Public Lands includes an initial term of 25 years with an option for 15 additional years. The planned casino, which would target mass-market players, will include 265,000 square feet of gaming floor on three levels.
“We want our gaming industry to be more competitive and based on Asian-style gaming. Our laws need to be attractive to investors, so it’s time for some changes,” said Mayor San Nicolas. Of Tinian Dynasty, he said, “We have a beautiful facility, and I don’t want to see it end up becoming an eyesore much like the La Fiesta Mall on Saipan … That’s why we are addressing this problem now and we are meeting with the investors” who may partner with the new owners to get the existing resort open.
