• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Wednesday 27 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

Imperial Pacific records US$367 million loss in 2020 on near zero revenue

Newsdesk by Newsdesk
Thu 1 Apr 2021 at 06:39
Imperial Pacific Chairman forced to offload shares as stock price fall triggers margin financing
52
SHARES
1.3k
VIEWS
Print Friendly, PDF & Email

Embattled Saipan casino investor Imperial Pacific International has reported a loss of HK$2.85 billion (US$367 million) for the year ended 31 December 2020, impacted by the closure of Imperial Palace • Saipan since March.

The absence of gaming operations through much of 2020 saw IPI’s revenue plummet 95.1% to just HK$26.5 million (US$3.4 million), with the company’s once substantial VIP segment seeing rolling chip volume fall from HK$14.02 billion in 2019 to HK$846 million. Mass drop fell from HK$648 million to HK$110 million.

Confirmation of IPI’s 2020 results comes less than a week after it narrowly avoided being placed into receivership by the US District Court of the Northern Mariana Islands by reaching an agreement with the US Department of Labor to pay all money owed to its workers.

The court had previously named a receiver and outlined a raft of powers to take possession and sell off IPI’s assets if it was unable to comply with a consent judgement.

Despite ongoing concerns over its financial state, IPI said in its 2020 results announcement that it fully intends to reopen of Imperial Palace • Saipan once the COVID-19 pandemic eases.

“Throughout the recovery process our Group remains committed to our mission of enhancing the tourism of Saipan and creating local opportunities,” IPI said.

“Despite the current impact from the COVID-19, we believe visitation to the Island of Saipan still has great potential in the long run benefiting from the island’s favorable weather, stunning attractions, [proximate] location and flexible visa policies, with more hotels to be built and opened.

“Once the travel restrictions in Saipan are lifted, the casino in Imperial Palace • Saipan shall resume operations and be opened to public. We expect the successional opening of villas and hotel rooms of Imperial Palace • Saipan, subject to the lifting of the global travel restrictions, will enhance our capacity to welcome visitors to Saipan.”

RelatedPosts

Sons of NagaCorp founder Chen Lip Keong join Forbes list of Malaysia’s richest

Surging mass market sees NagaCorp gaming revenues, profit enjoy double-digit growth in 1H25

Tue 26 Aug 2025 at 05:30
Macau GGR down 12.7% month-on-month to MOP$17.3 billion in September, lowest of the year

Macau government collects US$1 billion in gaming tax revenue in July

Mon 25 Aug 2025 at 13:34
Pacific puzzle

Team King completes acquisition of Saipan casino assets but IPI ownership links linger

Mon 25 Aug 2025 at 05:33
Death by a thousand cuts

SkyCity announces US$140 million equity raising on continued economic weakness, lower customer spend

Thu 21 Aug 2025 at 05:11
Load More
Tags: casinoCNMIImperial Pacific InternationalImperial Palace‧SaipanrevenueVIP rolling chip
Share21Share4
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 – 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

Macau GGR down 62% year-on-year to MOP$2.48 billion in June

Morgan Stanley: Macau gaming stocks likely set for re-rating given recent dividend payouts

by Ben Blaschke
Tue 26 Aug 2025 at 12:59

Macau gaming stocks look set for a re-rating given a recent spate of dividend declarations and growing bullishness on the sector, according to investment bank Morgan Stanley. In a recent note in which they outlined their expectation for a 15%...

Sons of NagaCorp founder Chen Lip Keong join Forbes list of Malaysia’s richest

Surging mass market sees NagaCorp gaming revenues, profit enjoy double-digit growth in 1H25

by Ben Blaschke
Tue 26 Aug 2025 at 05:30

Hong Kong-listed NagaCorp has credited the impressive growth of the mass market segment at its Cambodian integrated resort NagaWorld for substantial improvement in both its gross gaming revenues (GGR) and profitability in the first six months of 2025. NagaWorld booked...

MGS returns to Macau today with first live in-person show in four years

Galaxy looking to maintain events focus as Galaxy Arena extends partnership with TMElive by three years

by Newsdesk
Tue 26 Aug 2025 at 04:59

Galaxy Entertainment Group’s Galaxy Arena has renewed by a further three years its strategic partnership with live events company TMElive, aiming to further build on the high-profile array of entertainment offerings that have contributed to Macau’s post-pandemic recovery. In its...

Flutter stops India real-money gaming operations, bemoans lack of industry consultation

Flutter stops India real-money gaming operations, bemoans lack of industry consultation

by Ben Blaschke
Tue 26 Aug 2025 at 04:00

British gaming giant Flutter Entertainment says it expects to forfeit around US$100 million in revenue and US$25 million in Adjusted EBITDA after stopping its real-money gaming operations in India following the sudden passage of the Promotion and Regulation of Online...

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