Imperial Pacific International could have its casino licence suspended after admitting to violating five regulatory orders.
Northern Mariana Islands.- Imperial Pacific International (IPI) is facing the possible suspension of its casino licence in Saipan for failing to comply with regulatory orders.
The Commonwealth Casino Commission (CCC) said Imperial Pacific International had violated five orders:
- Failure to pay its US$3.1m annual regulatory fee in 2020.
- Failure to comply with an order to settle debts with vendors.
- Failure to fulfil minimum capital requirements.
- Failure to pay its annual US$15.5m casino licence fee in 2020.
- Failure to contribute US$20m to the community benefit fund on two occasions in 2018 and 2019.
Imperial Pacific’s future
The casino operator has admitted all of the violations. Some voices among the authorities are seeking a US$20m fine against the operator while others want the complete removal of Imperial Pacific International’s licence.
Andrew Yeom, the executive director of the CCC, through Mike Ernst, his assistant attorney general, said the regulator would ask for “a licence suspension of indeterminate amount until they fully comply with the orders that they have violated.”
Ernst said a US$20m fine would be similar to revocation as “IPI would never be able to pay such an amount given its dire financial circumstances.”
Last month, IPI began the process to obtain a casino key employee license for its chief executive officer (CEO).