Andrew Yeom, the CCC’s executive director, has revealed interest from potential bidders if IPI’s licence is permanently revoked.
Northern Mariana Islands.- According to Andrew Yeom, the Commonwealth Casino Commission’s executive director, several bidders have said they would be interested in Saipan if Imperial Pacific International’s licence is revoked.
Yeom was asked by Gaming Committee vice chair Rep. Christina E. Sablan if the CCC had been contacted by potential bidders for a casino licence. According to the Saipan Tribune, Yeom said: “I cannot tell you who, how many. But yes.”
He said he couldn’t reveal more details as it was a sensitive issue and IPI’s future hadn’t been decided.
Yeom said he expects IPI could resolve its issues but that if that doesn’t happen, he will advance with the possibility of revoking IPI’s licence.
Yeom was then asked about IPI’s building in Garapan and what would happen if IPI’s assets are liquidated. He said that would depend on whether IPI’s casino licence is revoked.
Rep. Vicente Camacho said nobody was sure what to do with the unfinished IPI building, but Yeom said a new investor would probably buy it.
According to the Commonwealth Casino Commission (CCC), IPI has violated five orders including a failure to pay its US$3.1m annual regulatory fee in 2020 and failure to comply with an order to settle debts with vendors.