First IPI equipment auction to be held on November 30

IPI’s receiver Clear Management has announced six auctions.
IPI’s receiver Clear Management has announced six auctions.

Clear Management has announced the first of six auctions of IPI’s gaming equipment as it seeks to collect on an unpaid balance of around $2m.

Northern Mariana Islands.- IPI’s receiver Clear Management Ltd has announced that it will hold the first of six auctions of the Casino operator’s property on November 30. Clear Management said it was already taking blind bids on items that include more than 350 slot machines and electronic table games, together with signage and slot stools.

According to the website launched for the auctions, the gaming equipment available for bids ranges from two to seven years old. The site notes that “although much was on the casino floor throughout some has not left the box it was delivered in.”

Monthly auctions will be held until April 29, 2022. The reserve price on each item is set at the receiver’s discretion and will not be disclosed to bidders.

USA Fanter had sued IPI for its inability to pay the full contract for labour and materials provided for the improvement of IPI’s property. IPI paid USA Fanter US$300,000 while the unpaid balance was around $2m.

A week ago, Danny Ewing, director of operations for Clear Management, told Mariana’s Variety: “We were granted access to the casino floor earlier this month and we’re pleased to see that not only was the inventory which had been handed to us by IPI accurate but that much of the equipment was in good shape.”

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