• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Sunday 1 June 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Imperial Pacific granted Saipan IR extension to February 2021

Newsdesk by Newsdesk
Mon 3 Sep 2018 at 07:52
Imperial Pacific IPI Saipan
Print Friendly, PDF & Email

Imperial Pacific International (IPI) has been granted an extension to the completion date for its Saipan IR until 28 February 2021.

The company announced overnight that it had entered into a written amendment to the Casino License Agreement with Saipan’s Casino Control Commission allowing for a change to the implementation schedule after requesting an extension last week.

It was revealed in July that IPI would miss its 31 August 2018 completion deadline, with the company stating the delay was due primarily to “the drastic reduction and non-availability of sufficient skilled and qualified construction laborers locally in Saipan and mainland USA.”

Under the new agreement, IPI must complete all construction of Imperial Pacific Resort by 28 February 2021, including the issuance of a Certificate of Occupancy Permit by the CNMI Department of Public Works.

The company will also be required to submit to the Lottery Commission within 15 days from the signing of the agreement last Friday a Construction Milestone Schedule including a list of pending tasks and projected completion dates, with detailed quarterly reports on progress and a biannual audit certified by its external auditor.

Any further delays will result in fines of US$5,000 a day.

IPI added that, in consideration of the extension of the implementation schedule, it will make a donation of US$500,000 to the Commonwealth Healthcare Corporation for the purchase of medical equipment.

Originally scheduled for completion in 2016, it was only 13 months ago that IPI was granted a previous extension to the Casino License Agreement to complete construction of its initial gaming facility by 31 August 2018.

When complete, it will feature a 329-room luxury hotel; 14,140 square meters of gaming area; 3,870 square meters of food and beverage outlets; 186 square meters of retail space; 930 square meters of meeting space; 15 villas; and a 1,500 square meter spa and fitness area with associated infrastructure.

RelatedPosts

CNMI Governor serves IPI with notice to suspend or revoke casino license

Regulator claims any buyer of IPI’s Saipan casino license would be required to make up US$1.6 billion investment shortfall

Thu 31 Oct 2024 at 04:35
Pacific puzzle

Creditors committee pushing for casino license to be included in liquidation of IPI’s Saipan assets

Tue 24 Sep 2024 at 05:31
Pacific puzzle

IPI creditor claims investor interested in buying Saipan casino, calls for open bidding process

Thu 29 Aug 2024 at 16:58
Pacific puzzle

Imperial Pacific owes more than US$87.5 million to CNMI government

Mon 24 Jun 2024 at 05:45
Load More
Tags: Casino Control CommissionCNMIextensionImperial Pacific InternationalIPISaipan IR
Share3Share
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – Foreigner-only casinos: Seize the day

Editorial – Foreigner-only casinos: Seize the day

by Ben Blaschke
Thu 29 May 2025 at 13:38

I was recently asked by someone working at a foreigner-only casino for my thoughts on the outlook for the Asian...

On the brink

On the brink

by Pierce Chan
Thu 29 May 2025 at 13:27

The transition period for Macau’s 11 satellite casinos is set to expire at the end of this year, after which...

A moral defense of gambling

A moral defense of gambling

by Andrew Russell
Wed 28 May 2025 at 18:19

Economist Andrew Russell explores the differences between community benefit and in-principle arguments for the existence of a legal gambling industry...

Face to face

Face to face

by Ben Blaschke
Wed 28 May 2025 at 18:08

Konami caught the eye at the recent G2E Asia show in Macau with its SYNK Vision Tables, which utilize facial...

Evolution Asia
Aristocrat
GLI
Mindslot
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

10 Years Ago – Reimagining Sri Lanka

Sri Lanka gazettes draft bill to establish Gambling Regulatory Authority

by Newsdesk
Sat 31 May 2025 at 06:03

A draft bill that would establish an official regulator for the Sri Lankan gaming industry, to be known as the Gambling Regulatory Authority, has taken another step forward after being gazetted. According to the Sri Lanka Mirror, the official announcement...

RGB International signs agreement to distribute KL Saberi and Atlas gaming machines

After record-breaking sales in 2024, Malaysia’s RGB sees 1Q25 profit fall to

by Newsdesk
Sat 31 May 2025 at 05:53

Malaysian gaming product distributor RGB International Bhd has reported group-wide revenue of MYR73.6 million (US$17.3 million) for the three months to 31 March 2025, down 65% year-on-year due to a lower number of products sold. The figure was also 79%...

Robert Goldstein to step aside as LVS Chairman and CEO from March 2026, replaced by Patrick Dumont

Robert Goldstein: Macau gaming market challenged by increased competition, online gambling and US-Sino trade war

by Ben Blaschke
Fri 30 May 2025 at 06:42

Las Vegas Sands (LVS) Chairman and CEO Robert Goldstein has bemoaned the lingering impact of the US-China trade war, as well as increased domestic and regional competition and the rise of online gambling across Asia for sustained flatness in the...

Industry hopes Thai Entertainment Complex Roundtable can establish “common ground” with those opposing legal casinos

Industry hopes Thai Entertainment Complex Roundtable can establish “common ground” with those opposing legal casinos

by Ben Blaschke
Fri 30 May 2025 at 05:38

Industry figures taking part in the Thai Entertainment Complex Roundtable (TECR) next Thursday 5 June hope to find common ground with those who oppose Thailand’s Entertainment Complex Bill, citing the opportunity to use an evidence-based approach to achieve outcomes that...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • English