Imperial Pacific International has strengthened its board with the appointment of Mr Ma Wentao as a non-executive director.
The 34-year-old already has ties to the company in his role as a director of American Sinopan LLC, the operator of Saipan’s Casha resort hotel of which IPI holds a 50% stake.
Ma, a graduate of the Beijing Business Management College, is also an investor in and CEO of Beijing Yangguang Zongheng Culture Development Limited. His appointment is for an initial one year term.
Ma’s arrival comes as the Commonwealth Casino Commission revealed it plans to impose a fine of US$375,000 on IPI for the late payment of its annual casino license fee.
According to the Saipan Tribune, CCC executive director Edward Deleon Guerrero said the fine represents US$25,000 per day for each of the 15 days that the US$15 million payment was late.
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