{"id":24734,"date":"2021-11-22T12:14:40","date_gmt":"2021-11-22T15:14:40","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=24734"},"modified":"2026-04-23T13:37:07","modified_gmt":"2026-04-23T16:37:07","slug":"first-ipi-equipment-auction-to-be-held-on-november-30","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/first-ipi-equipment-auction-to-be-held-on-november-30","title":{"rendered":"First IPI equipment auction to be held on November 30"},"content":{"rendered":"\n<p>Clear Management has announced the first of six auctions of IPI\u2019s gaming equipment as it seeks to collect on an unpaid balance of around $2m.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Northern Mariana Islands.- IPI&#8217;s receiver <a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/clear-management-appointed-as-ipi-receiver\">Clear Management Ltd<\/a> has announced that it will hold the first of six auctions of the Casino operator&#8217;s property on November 30. Clear Management said it was already taking blind bids on items that include more than\u00a0<strong>350 slot machines and electronic table games<\/strong>, together with signage and slot stools.<\/p>\n\n\n\n<p>According to the website launched for the auctions, the gaming equipment available for bids ranges from two to seven years old. The site notes that &#8220;although much was on the casino floor throughout some has not left the box it was delivered in.&#8221; <\/p>\n\n\n\n<p>Monthly auctions will be held until April 29, 2022. The reserve price on each item is set at the receiver&#8217;s discretion and will not be disclosed to bidders.<\/p>\n\n\n\n<p><a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/cnmi-court-denies-motion-to-appoint-receiver-for-ipi-sale\" rel=\"noreferrer noopener\">USA Fanter<\/a>&nbsp;had sued IPI for its inability to pay the full contract for labour and materials provided for the improvement of IPI\u2019s property.&nbsp;<strong>IPI paid USA Fanter US$300,000<\/strong>&nbsp;while the unpaid balance was around $2m.<\/p>\n\n\n\n<p>A week ago,\u00a0<strong>Danny Ewing, director of operations for Clear Management<\/strong>, told Mariana&#8217;s Variety: \u201cWe were granted\u00a0<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/ipis-casino-gaming-equipment-will-be-sold-in-six-auctions\">access to the casino floor<\/a>\u00a0earlier this month and we\u2019re pleased to see that not only was the inventory which had been handed to us by IPI accurate but that much of the equipment was in good shape.\u201d<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Clear Management has announced the first of six auctions of IPI\u2019s gaming equipment as it seeks to collect on an unpaid balance of around $2m.<\/p>\n","protected":false},"author":176,"featured_media":24752,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Clear Management, acting as receiver for IPI, has commenced the first of six auctions for IPI's gaming equipment, including over 350 slot machines and electronic table games. This action aims to recover an outstanding balance of approximately $2 million owed to USA Fanter for labor and materials. The liquidation process underscores the financial distress and asset recovery mechanisms within the iGaming sector.","focusai_entities":"Clear Management, IPI, USA Fanter, Danny Ewing","focusai_location":"Northern Mariana Islands","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.9), operator_casino (0.85), investor_analyst (0.95), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"IPI's Future Viability?","query":"What are the broader implications of IPI's financial distress and asset liquidation for its remaining operational viability and future licensing status in the Northern Mariana Islands?"},{"label":"Asset Acquisition Strategy?","query":"What strategic considerations should potential bidders evaluate when acquiring pre-owned gaming equipment from a distressed operator, particularly regarding refurbishment costs, warranty, and regulatory re-certification?"}],"footnotes":""},"categories":[16336,157],"tags":[14213,22674],"class_list":["post-24734","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-business-news","tag-imperial-pacific","tag-ipi"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24734","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=24734"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24734\/revisions"}],"predecessor-version":[{"id":24760,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24734\/revisions\/24760"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/24752"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=24734"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=24734"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=24734"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}