IPI names CEO and asks for licence fee reduction
The casino operator still breached the July 10 deadline the CCC had established to replace former CEO Mark Brown.
Northern Mariana Islands.- Casino operator Imperial Pacific International (IPI) has named a new CEO after the Commonwealth Casino Commission (CCC) deadline to do so.
According to AGBrief, the operator finally appointed senior vicepresident Donald Browne, who has been in the company since 2015, to the position.
In a memo sent to employees, the firm said: “In his previous role as senior vice president, he proves that his experience and drive will take IPI to the next level of growth and development under a reorganized structure.”
The position had been vacant since Mark Brown’s resignation in December. IPI was given until July 10 to replace him.
The casino operator meanwhile is looking to obtain a reduction of its annual US$15 million licence fee in Saipan due to the halting of operations during the Covid-19 pandemic.
RNZ reports the casino is asking for a 50 per cent reduction, as well as an extension of the deadline to finish its Imperial Palace Resort in Garapan, Saipan. The current deadline for completion is February 2021.
IPI also has to contribute US$20 million to a community benefit fund in the Northern Mariana Islands, but the firm wants to change this from a fixed fee to a percentage of profits.
