Andrew Yeom, the CCC’s executive director, said the money the commission receives is not enough to continue running.
Northern Mariana Islands.- The Commonwealth Casino Commission (CCC) is running out of money and the $2m it’s received from the CNMI government isn’t enough.
There is only one casino on Saipan island, whose operator, Imperial Pacific International, has seen its licence suspended indefinitely for failing to comply with regulatory orders.
Andrew Yeom, the CCC’s executive director, asaid: “It would be better for us [if there are other casinos], but we only have one exclusive licensee.”
He said money from the government “may be enough for personnel and operations costs for now, but it won’t last long.”
According to Marianas Variety newspaper, the CCC depends on its regulatory fee and receives only $1m annually in the CNMI government’s fiscal year budget.
The Commonwealth Casino Commission board has ordered IPI to pay a penalty of US$6.6m, an annual casino exclusive licence fee of US$15.5m and annual casino regulatory fees of US$3.1m.
IPI has appealed against the decision to suspend its licence. Juan T. Lizama, IPI’s lawyer, filed the appeal, and the CCC commissioners agreed to make a technical amendment to the order.