• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Monday 4 August 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

Receiver reopens online auctions for sale of Imperial Pacific’s Saipan casino equipment

Ben Blaschke by Ben Blaschke
Thu 15 Sep 2022 at 05:23
Imperial Pacific Chairman forced to offload shares as stock price fall triggers margin financing
33
SHARES
820
VIEWS
Print Friendly, PDF & Email

Casino gaming equipment owned by Saipan casino operator Imperial Pacific International (CNMI) LLC is back on the market and set to be auctioned off from next month after a local court lifted a stay on the sale.

The first of two auctions for IPI’s equipment is scheduled to take place on 7 October followed by the second on 9 December. Both will feature closed bids with all items for auction to be posted no later than 5 days before at www.gamingequipmentauction.com.

The sale comes almost a year after an original plan to run six auctions for the equipment was put on hold following an offer from IPI to place around US$2 million into an escrow account pending judgement of a related court matter. The auctions were delayed even further when IPI said it was to receive US$150 million in funding from an investor which would allow it to settle outstanding debts.

That investment has never materialized, with receiver Clear Management Ltd, a company headed by veteran industry executive Tim Shepherd, now called back in to resume the asset sale.

“We have been on standby as the legal wrangling continued,” Shepherd told Inside Asian Gaming.

“Our concern obviously has been that this highly valuable gaming equipment has spent another year in the humid, muggy environment of a shuttered casino on a tropical island.

“The good news is that IPI bought from world class suppliers like Light & Wonder and Aristocrat, so the equipment we have seen is still in very good shape indeed. There is a lot of equipment that has never come out of its box.

“Also the industry has picked up globally and we have already been approached by new interested parties keen to feed demand for great casino equipment scarcely or not at all used in an auction like this.”

Shepherd said Clear Management would assess the possibility of holding more auctions if required towards the end of the year.

Interested buyers can bid by email via bids@gamingequipmentauction.com

Imperial Palace‧Saipan closed its doors in March 2020 due to the COVID-19 pandemic and has remained shuttered since, with IPI’s casino license suspended by the Commonwealth Casino Commission last year following a series of complaints for failure to comply with various requirements under its license agreement.

As reported by IAG, the total amount owed by IPI to the CNMI government in unpaid license and regulatory fees alone is set to pass US$100 million on 1 October 2022.

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
Alvin Chau

Macau’s Court of First Instance attempts another auction of Alvin Chau properties at reduced price

Wed 17 Jul 2024 at 19:15
Load More
Tags: auctioncasino equipmentClear ManagementCNMIImperial Pacific InternationalImperial Palace‧SaipanSaipanTim Shepherd
Share13Share2
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Better late than never

Editorial – Better late than never

by Ben Blaschke
Thu 31 Jul 2025 at 07:13

Inside Asian Gaming has in recent weeks been hearing increasing chatter around a possible move by Vietnamese authorities to introduce...

Angel’s Yasushi Shigeta

Angel’s Yasushi Shigeta

by Ben Blaschke
Thu 31 Jul 2025 at 07:08

Yasushi Shigeta, Chairman and owner of one of the world’s largest gaming industry suppliers, Angel Group, sits down with Inside...

The Magic Number

The Magic Number

by David Bonnet
Thu 31 Jul 2025 at 06:41

In this in-depth deep dive into the evolution of the Asian gaming landscape, David Bonnet argues that many regional jurisdictions...

Rashid Suliman – A road well traveled

Rashid Suliman – A road well traveled

by Ben Blaschke
Thu 31 Jul 2025 at 02:45

Rashid Suliman, Vice President of Global Gaming Asia-Pacific for casino solutions provider TransAct Technologies, provides some insight into his unique...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
HKUST
NWR

Related Posts

Legal battle continues to hurt Donaco’s bottom line

Donaco shareholders approve US$35 million privatization bid

by Ben Blaschke
Mon 4 Aug 2025 at 15:36

A proposal by Hong Kong’s Argyle Street Management Limited to acquire 100% of the shares in ASX-listed, Southeast Asian casino operator Donaco International Ltd that it doesn’t already own is one step away from becoming reality after Donaco shareholders on...

Light & Wonder’s Siobhan Lane

Global debut of “Fortune Doors” among five Light & Wonder game families to be showcased at next week’s Australasian Gaming Expo

by Ben Blaschke
Mon 4 Aug 2025 at 13:16

Global gaming giant Light & Wonder will debut its latest game family, Fortune Doors, at next week’s Australasian Gaming Expo in Sydney – one of five game families offering 14 unique themes between them to feature at the company’s stand....

Experts claim 90% of Macau money exchange gangs eradicated since passing of illegal gaming law

Morgan Stanley says Macau now a growth market, raising 2025 GGR and EBITDA forecasts after two consecutive monthly beats

by Ben Blaschke
Mon 4 Aug 2025 at 11:48

Investment bank Morgan Stanley has raised its Macau GGR and EBITDA growth forecasts for 2025, and operator price targets by 30% across the board, following two consecutive monthly beats in June and July. In a Monday note, Morgan Stanley analysts...

Hann Resorts founder Dae Sik Han says IPO essential to ensure no delays to Clark expansion plans

Hann Resorts founder Dae Sik Han says IPO essential to ensure no delays to Clark expansion plans

by Ben Blaschke
Mon 4 Aug 2025 at 06:02

The Chairman and CEO of Hann Philippines Inc, Dae Sik Han, has revealed he opted to proceed with an initial public offering on the Philippine Stock Exchange to ensure his ambitious expansion plans could proceed without delay. Hann, the parent...

Your browser does not support the video tag.


IAG

© 2005-2025
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

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • English