IPI’s CEO hopes the CCC will not revoke its gaming licence
Ray N. Yumul, IPI’s chief executive officer, has said that the casino operator is willing to modify its conditions in order not to lose its gaming licence.
Northern Mariana Islands.- Ray N. Yumul has responded to CCC executive director Andrew Yeom‘s, call for IPI’s gaming licence to be permanently revoked. He says the casino operator is willing to waive its exclusivity to keep the licence.
In February, the Northern Mariana Islands legislature introduced a bill to authorise a new casino licence in the event that IPI’s licence is finally revoked. Yumul noted that if the Commonwealth Casino Commission revokes its licence, IPI will only be left with hotels and will no longer pay its annual US$15m obligation to the CNMI government.
He said IPI is handling litigation but does not want to give up its responsibility and that he hoped Andrew Yeom will postpone the filing of his complaint while IPI continues to discuss alternative solutions with the government and legislature.
Yeom has said that the casino operator failed to pay the US$3.1m casino regulatory fee on Oct. 1, 2020, and subsequently on March 3, 2021. The company also failed to pay the US$15.5m annual exclusive casino license fee on Aug. 12, 2020, and subsequently on Aug. 12, 2021.
He said: “Unfortunately, the very violations that triggered the suspension are still mounting while IPI has done nothing to indicate any willingness to come into compliance with the aforementioned final order.”
