The Commonwealth Casino Commission (CCC) has withdrawn a complaint against Imperial Pacific International (IPI) after the Saipan integrated resort operator paid the outstanding US$10.5 million balance owing on its annual casino license fee.
The regulator issued the original complaint last week upon discovering that IPI had paid only US$5 million of the US$15 million due by the 12 August deadline. It also gave IPI 15 days to pay the balance or risk having its license suspended.
While IPI eventually made the payment – which included an additional US$502,570 Consumer Price Index adjustment – shortly before the 15-day deadline expired, the CCC may still issue a penalty of up to US$50,000 for the delay.
IPI has made no secret in recent times of its need to preserve funds for the completion of Imperial Palace‧Saipan, including the scheduled opening of the first six of 15 VIP suites and villas by 30 September.
The property’s first hotel is due to open by the end of the year, with a second hotel forecast to open by 30 June 2020, a VIP gaming area and sky level by 30 September 2020 and Beach Club by 31 December 2020.