• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Saturday 28 January 2023
    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
      • Vietnam
    • Events
    • Consulting
    • 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
      • Vietnam
    • Events
    • Consulting
    • Contributors
    • SUBSCRIBE FREE
    No Result
    View All Result
    IAG
    No Result
    View All Result

    Imperial Pacific given two weeks to save casino license

    Newsdesk by Newsdesk
    Tue 30 Jun 2020 at 05:19
    Imperial Pacific IPI Saipan
    61
    SHARES
    1.4k
    VIEWS
    Print Friendly, PDF & Email

    The Commonwealth Casino Commission has promised to revoke the casino license of Imperial Pacific International within 15 days if it fails to comply with three orders it approved last week.

    As previously reported by IAG, the orders included the appointment of a new CEO by 10 July, to meet its financial obligations to both private vendors and the CNMI government, and to ensure it has money put aside to cover three months’ payroll at all times.

    According to Marianas Variety, all three orders will be published this week, with Commission Chairman Edward C. Deleon Guerrero stating Monday that should IPI fail to comply with any of them, “I’m sorry to say, we have to revoke the license and the game is over.”

    The CCC also stipulated on Monday that funds to cover payroll must be deposited into a bank account under IPI’s own name and with either a CNMI or US bank. IPI has disputed that stipulation, stating it fears such funds could be frozen or seized to pay its former contractor Pacific Rim. Current IPI bank accounts have already been frozen by the US federal court after the company was ordered to pay Pacific Rim US$5.6 million for breaching a promissory note.

    However, the CCC has told IPI it can’t help the company evade a court order, with Guerrero stating, “IPI needs to resolve its problem with Pacific Rim so the payroll account reserve can remain in the bank.

    “We cannot make an order reaching out to a non-IPI entity. This order is for IPI. We don’t want to vote on something we know is not executable.

    “The commissioners are voting, not IPI.”

    RelatedPosts

    Pacific puzzle

    Saipan casino regulator shuts down office due to lack of funding

    Thu 19 Jan 2023 at 05:46
    Las Vegas Sands to pursue IR development on New York’s Long Island

    Las Vegas Sands to pursue IR development on New York’s Long Island

    Fri 13 Jan 2023 at 04:45
    Pacific puzzle

    Casino chips, roulette wheels among items to feature in third IPI auction

    Mon 2 Jan 2023 at 04:10
    We’re Back!

    Crown Perth welcomes new CEO David Tsai, tasked with winning back casino license

    Wed 14 Dec 2022 at 05:07
    Load More
    Tags: casino licenseCommonwealth Casino CommissionEdward Deleon GuerreroImperial Pacific InternationalImperial Palace‧SaipanPacific Rim
    Share27Share4
    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: Want to attract foreigners? Make Macau the poker capital of Asia

    Editorial: Want to attract foreigners? Make Macau the poker capital of Asia

    by Ben Blaschke
    Wed 4 Jan 2023 at 11:39

    In what has become a point of widespread debate, the Macau SAR Government has called on its gaming concessionaires to...

    Singapore swing

    Singapore swing

    by Ben Blaschke
    Wed 4 Jan 2023 at 11:32

    Having previously established itself as the gold standard in the operation and regulation of integrated resorts in Asia following the...

    Flying high

    Flying high

    by Ben Blaschke
    Wed 4 Jan 2023 at 11:25

    Having endured a hectic three years at Marina Bay Sands which saw him promoted to Chief Operating Officer while dealing...

    Coming together

    Coming together

    by Newsdesk
    Wed 4 Jan 2023 at 11:21

    On 1 August 2022, Singapore officially inaugurated a new gambling regulator, the Gambling Regulatory Authority (GRA), replacing the former Casino...

    Softswiss
    Evolution Asia
    Aristocrat
    Solaire
    Solaire
    Beter
    Beter
    IGT

    Related Posts

    G2E Asia to forge ahead with July dates for 2020 trade show

    G2E Asia to return in 2023 with two shows in Singapore and Macau

    by Ben Blaschke
    Fri 27 Jan 2023 at 15:25

    Industry trade show G2E Asia will return not once but twice in 2023, with “G2E Asia Special Edition: Singapore” to take place at Marina Bay Sands from 30 May to 1 June followed by the “Asian IR Expo + G2E...

    London calling

    Sands China expecting positive return on multi-billion dollar Macau non-gaming commitment

    by Ben Blaschke
    Fri 27 Jan 2023 at 07:23

    Sands China executives said Thursday they are confident that the company’s capital commitment of up to US$4.5 billion into Macau over the next 10 years, most of which will be for non-gaming attractions, can generate positive returns. The commitment, which guarantees...

    IAG names The Parisian Macao as venue for 2020 Asian Gaming Power 50 Gala Dinner

    Analysts upgrade Las Vegas Sands on positive Macau, Singapore performance

    by Ben Blaschke
    Fri 27 Jan 2023 at 06:44

    Analysts have upgraded their estimates for Las Vegas Sands (LVS) after the company reported strong recovery indicators during this week’s 4Q22 results release and earnings call. The improved sentiment was largely driven by the reopening of Macau’s borders on 8...

    We’re Back!

    Skycity names former Tabcorp CEO David Attenborough as non-executive director

    by Newsdesk
    Fri 27 Jan 2023 at 06:40

    New Zealand’s Skycity Entertainment Group has announced its intention to appoint former Tabcorp Managing Director and CEO David Attenborough as a non-executive director, pending regulatory approvals. In a Friday morning filing, Skycity said Attenborough would join the Board of Directors...


    IAG

    © 2005-2023
    Inside Asian Gaming.
    All rights reserved.

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

    No Result
    View All Result
    • Subscribe
    • Newsfeed
    • Mag Articles
    • Video
    • Opinion
    • Tags
    • Regional
    • Events
    • Contributors
    • Consulting
    • Magazines
    • Advertise
    • Contact
    • About

    © 2005-2023
    Inside Asian Gaming.
    All rights reserved.