American territory is developed by casinos
Northern Mariana Islands, an American territory, has reported further economic growth due to casino operations.
Northern Mariana Islands.- The US Commerce Department has released the financial analysis on its territory this week, and according to the report, the American territory of Northern Mariana Islands has grown since casino started operations. The Commonwealth of the Northern Mariana Islands (CNMI), located in the North Pacific, has recently approved gaming operations.
The island of Saipan is hosting the newest gaming salon in the territory, which is directly related to the Commonwealth’s economic development that was noted since late 2016. The Northern Mariana Islands’ real gross domestic product (GDP) in 2016 was up almost 29 percent year-on-year basis due to the local casino activity.
In 2015 CNMI’s real GDP only recorded 3.8 percent growth rates. The department’s bureau concluded it reflects “real GDP as an indicator net of price changes in the underlying local economy.” Furthermore, the Commonwealth Casino Commission executive director, Edward Deleon Guerrero, admitted that junket operations will be implemented as soon as the application and licensing process has been finalised. Then the licenses will be released to Best Sunshine International, Ltd., the firm currently building a Saipan casino, as well as to other parties.
Moreover, other measures will be implemented prohibiting casinos to provide complimentary cash, chips, wagering credits or instruments to any restricted persons, such as Commonwealth board members, officers or employees.
