By Ben Blaschke
Imperial Pacific International (IPI) is working with “due diligence” to fulfil a list of tasks from the Commonwealth Casino Commission (CCC) that must be completed before casino operations at its new Saipan resort can begin, the company says, but a precise completion date is yet to be determined.
The CCC last month revealed a number of health and safety concerns that IPI must address before it can open its Imperial Pacific Resort, including the implementation of an approved fire alarm system and clearing of debris from construction areas.
In response to questions from Inside Asian Gaming regarding progress, IPI said it “has received a detailed list of opening requirements from the CCC” and that “the company has been working with due diligence to complete all commission requirements.
“The requirements issued by CCC mainly cover the areas of fire alarm systems; increased presence of fire watch, safety consultant, construction workers’ proper work authorization, legal certification, parking spaces, trash removal, grounds enhancement and indemnification agreement.
“The company would like to reiterate again that the safety and security of staff and patrons are of the highest priority. When all the CCC opening requirements are satisfied, IPI will be immediately allowed to commence casino operations in the Imperial Pacific Resort Hotel – Saipan.”
IPI said it couldn’t yet confirm a date for completion of the required tasks.
In the meantime, the company yesterday provided further detail on its plan to raise HK$46 million through the placement of convertible bonds in order to complete Phase 1 of the property.
In a filing to the Hong Kong Stock Exchange late Tuesday, IPI said that HK$39 million of the proposed funds would be used to pay contractors at Imperial Pacific Resort with the remaining HK$7 million for staff salaries.
