Fire damages IPI construction materials in Garapan

The fire damaged construction and insulation materials.
The fire damaged construction and insulation materials.

The fire is believed to have started on Monday morning in the area where the construction materials were stored.

Northern Mariana Islands.- Imperial Pacific International has suffered a fire on the site where its Garapan casino hotel is being built. The fire broke out on Monday morning and, although it did not damage the structure of the facility, some construction and insulation materials were lost.

Mariana’s Variety said the fire is believed to have originated in an area where construction materials were stored. Firefighters arrived quickly and controlled the situation. The cause is unknown, but high temperatures could have been a factor.

The casino operator was supposed to finish its new IR in Garapan last February but failed to meet that deadline. Last August, it submitted a request to the Commonwealth Lottery Commission (CLC) asking for a five-year extension to finish its Garapan casino development, but the CLC did not rule on it.

IPI debt with the CCC could increase to US$55.9

In the coming months, IPI is scheduled to pay its annual casino licence fee and annual casino regulatory fee. If it doesn’t, its debt to the Commonwealth Casino Commission (CCC) could rise to US$55.9m.

IPI still needs to make annual licence fee payments that were due August 2020 and August 2021 and the annual casino regulatory fee due October 2020 and October 2021. Together they total of US$37.3m.

According to CCC chair Edward C. DeLeon Guerrero, IPI has to pay an annual casino exclusive licence fee of US$15.5m and annual casino regulatory fees of US$3.1m, which is the main source of financing for the regulator.

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