Inside Asian Gaming

IAG SEP 2020年9月 亞博匯 74 IN FOCUS rooms now dubbed Imperial Casha. IPI’s license allows multiple casinos, though it has not yet proposed gaming at Imperial Casha. IPI has proposed amending its license agreement to include hotel rooms at different locations to fulfill its US$2 billion and 2,000 guest room development obligations, or even transfer that obligation to other entities, plus extending the 28 February completion deadline for its Garapan hotel, already twice extended from its original August 2017 deadline. “I truly believe that they have not had any intention of finishing the [Garapan] hotel,” says Glen Hunter, whose lawsuit induced Governor Torres to admit breaking the law to pass casino legalization. Proprietor of beachfront café The Shack, Hunter believes it makes better business sense for IPI to run the casino without the expense of a hotel. He’s also skeptical Saipan needs the mandated 2,000 hotel rooms. McCamley, who has consulted in CNMI occasionally since his Tinian stint, believes IPI “are trying their best to complete the facility.” IPI’s 2019 annual report states it spent US$879 million through last year on the project expected to cost US$600 million to complete. “I cannot speculate on the amount they have paid, but do not see anything close to US$900 million in construction work in place on this project,” Pacific Rim Group President Keith Stewart says. Based in Guam, Pacific Rim has won a US$6.9 million judgment against IPI for unpaid bills. IPI has countersued, alleging Pacific Rim failed to meet contract terms, and is fighting Pacific Rim efforts to seize its property and cage cash to satisfy the judgment. Pacific Rim began working with IPI in early 2018 and estimates it could have completed Imperial Palace Saipan by the end of 2019.