Casino non-compliant with regulations
A Chapter 11 bankruptcy petition filed by the owner of the Tinian Dynasty Casino has been dismissed by U.S. Bankruptcy Court Judge Robert J. Faris, according to the World Casino Directory. The decision is not final, however, and Tinian Dynasty’s owner, Hong Kong Entertainment (Overseas) Investments Ltd., may file again.
Hong Kong Entertainment filed for bankruptcy December 11, and Faris dismissed the matter January 15. The plan would have allowed the parent company to make a deal with creditors enabling part or all of the business to continue, reported WCD. Due to noncompliance with requirements of the Tinian Casino Gaming Control Commission and a typhoon disrupted travel to the area, the casino resort has been closed since August 2015.
It was expected to reopen December 15, but did not do so because operators did not pay table and slot machine fees and outstanding taxes from the previous fiscal year; did not pay outstanding employee salaries or create a schedule for repayment; ensure that employee licenses and hotel registrations are renewed or up-to-date; and identify its source of funding for the reopening, the Saipan Tribune reported last month.
