{"id":23206,"date":"2021-10-01T11:34:07","date_gmt":"2021-10-01T14:34:07","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=23206"},"modified":"2026-04-23T15:07:36","modified_gmt":"2026-04-23T18:07:36","slug":"ipis-ceo-hopes-the-ccc-will-not-revoke-its-gaming-licence","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/ipis-ceo-hopes-the-ccc-will-not-revoke-its-gaming-licence","title":{"rendered":"IPI’s CEO hopes the CCC will not revoke its gaming licence"},"content":{"rendered":"\n

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.<\/p>\n\n\n\n\n\n\n\n

Northern Mariana Islands.- Ray N. Yumul has responded to CCC executive director\u00a0Andrew Yeom<\/a>‘s, call for IPI’s\u00a0<\/strong>gaming licence to be permanently revoked. He says the casino operator is willing to\u00a0waive its exclusivity<\/a> to keep the licence.<\/p>\n\n\n\n

In February, the Northern Mariana Islands legislature introduced a bill to\u00a0authorise a new casino licence<\/strong>\u00a0in the event that\u00a0IPI\u2019s licence is finally revoked<\/a>.\u00a0Yumul noted that if the Commonwealth Casino Commission revokes its licence,\u00a0IPI will only be left with hotels <\/strong>and will no longer pay its annual US$15m obligation to the CNMI government.<\/p>\n\n\n\n

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.\u00a0<\/p>\n\n\n\n

Yeom has said that the casino operator failed to pay the US$3.1m casino regulatory fee on Oct. 1, 2020<\/strong>, 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.<\/p>\n\n\n\n

He said: \u201cUnfortunately, the very violations that triggered the suspension are still mounting while\u00a0IPI has done nothing to indicate any willingness to come into compliance<\/strong>\u00a0with the aforementioned final order.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

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.<\/p>\n","protected":false},"author":176,"featured_media":19434,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Imperial Pacific International (IPI) is actively negotiating with the Commonwealth Casino Commission (CCC) and the CNMI government to retain its gaming license, which faces revocation due to substantial unpaid regulatory and exclusive license fees. IPI's CEO, Ray N. Yumul, has indicated a willingness to waive exclusivity and modify conditions, warning that license revocation would cease its US$15m annual obligation to the CNMI.","focusai_entities":"Ray N. Yumul, IPI, Andrew Yeom, Commonwealth Casino Commission, CNMI government, Imperial Pacific International","focusai_location":"Northern Mariana Islands","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (0.9), operator_casino (0.8), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"IPI's Financial Viability?","query":"Given the repeated failures to meet significant financial obligations, what is the Commonwealth Casino Commission's assessment of IPI's long-term financial viability and capacity to operate a licensed gaming establishment?"},{"label":"Impact on CNMI Revenue?","query":"How would the permanent revocation of IPI's gaming license impact the CNMI government's annual revenue projections, considering the potential loss of the US$15m obligation and the introduction of a bill for a new license?"}],"footnotes":""},"categories":[16336,156],"tags":[23911,14213,22674],"class_list":["post-23206","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-regulation-news","tag-gambling-regulation","tag-imperial-pacific","tag-ipi"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23206","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=23206"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23206\/revisions"}],"predecessor-version":[{"id":23223,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23206\/revisions\/23223"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/19434"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=23206"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=23206"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=23206"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}