Imperial Pacific delays pay due to financial problems

Imperial Pacific has failed to comply with its scheduled payments for February as it continues to face financial problems.

Northern Mariana Islands.- Imperial Pacific International’s (IPI) has told active employees that payroll for February 7 to 20 will be delayed until further notice. The company has been facing financial difficulties since the closure of the Imperial Pacific Resort in Garapan in March 2020.

The company said: “We are working to find resources to cure this delay. We send our sincerest apologies to you for this inconvenience.”

Imperial Pacific International’s (IPI) gaming licence was suspended indefinitely as the operator failed to comply with regulatory orders. The Commonwealth Casino Commission board 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.

Last year, Andrew Yeom, Commonwealth Casino Commission executive director, filed five complaints against Imperial Pacific International seeking to revoke the operator’s exclusive casino licence. He argued that the company failed to pay last year’s annual regulatory fees of US$3m.

Regulators will hold a series of meetings this month to decide the fate of the company’s monopoly casino licence.