{"id":30431,"date":"2022-06-03T04:45:01","date_gmt":"2022-06-03T07:45:01","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=30431"},"modified":"2026-04-23T08:07:29","modified_gmt":"2026-04-23T11:07:29","slug":"ipi-debt-with-the-ccc-could-increase-to-us55-9","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/ipi-debt-with-the-ccc-could-increase-to-us55-9","title":{"rendered":"IPI debt with the CCC could increase to US$55.9"},"content":{"rendered":"\n

The company is due to pay its annual casino licence fee and annual casino regulatory fee by August and October, respectively.<\/p>\n\n\n\n\n\n\n\n

Northern Mariana Islands.-\u00a0Imperial Pacific International\u00a0<\/strong>had a new financial headache approaching. In the coming months, it’s scheduled to pay its annual casino licence fee and annual casino regulatory fee. If it doesn’t, its debt to the Commonwealth Casino Commission (CCC) could rise to US$55.9m.<\/p>\n\n\n\n

IPI still needs to make annual licence fee payments that were due August 2020 and August 2021 and the annual casino regulatory fee due October 2020 and October 2021. Together they total of US$37.3m.<\/p>\n\n\n\n

According to CCC chair Edward C. DeLeon Guerrero, IPI has to pay an annual casino exclusive licence fee of US$15.5m and annual casino regulatory fees of US$3.1m<\/strong>, which is the main source of financing for the regulator.<\/p>\n\n\n\n

CCC’s revenue<\/a>\u00a0for the fiscal year 2021 was only $20,215.\u00a0Andrew Yeom<\/strong>, the regulator\u2019s executive director told commission chairman\u00a0Edward C. Deleon Guerrero<\/strong>\u00a0revenue was limited due to IPI\u2019s failure to pay its fees.<\/p>\n\n\n\n

CNMI Court extends temporary restraining order against CCC<\/h2>\n\n\n\n

As previously reported by Focus Gaming News, Chief Judge Ramona V. Manglona <\/strong>has extended a temporary restraining order<\/a> (TRO) against the Commonwealth Casino Commission until 12pm on July 8.<\/p>\n\n\n\n

The judge said: \u201cThe Court extends this TRO based on the parties\u2019 representation that they have made significant progress toward settlement and require additional time to finalize the terms of an agreement in principle and to enter a comprehensive settlement agreement memorializing those terms, to allow them time to resolve this matter without proceeding to an order to show cause hearing for a preliminary injunction.\u201d <\/p>\n\n\n\n

She has scheduled a status meeting for Friday July 1 at 9,00am and ordered all parties to attend. Attorneys from off-island may appear via video conference call and will be referred to the case officer for further instructions.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company is due to pay its annual casino licence fee and annual casino regulatory fee by August and October, respectively.<\/p>\n","protected":false},"author":176,"featured_media":30284,"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 faces escalating debt to the Commonwealth Casino Commission in the Northern Mariana Islands due to persistent non-payment of annual casino license and regulatory fees, totaling US$37.3m in arrears and potentially rising to US$55.9m. This financial delinquency severely impacts the regulator's operational funding. Concurrently, a temporary restraining order against the CCC has been extended, indicating ongoing legal negotiations towards a potential settlement.","focusai_entities":"Imperial Pacific International, Commonwealth Casino Commission, Edward C. DeLeon Guerrero, Andrew Yeom, Ramona V. Manglona","focusai_location":"Northern Mariana Islands","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (0.9), operator_casino (0.85), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"IPI Debt Resolution","query":"What specific mechanisms are being explored in the settlement discussions to resolve Imperial Pacific International's outstanding US$37.3m debt to the Commonwealth Casino Commission, and what is the projected timeline for a definitive agreement?"},{"label":"Regulatory Funding Impact","query":"How will the Commonwealth Casino Commission address its severe funding deficit, exacerbated by IPI's non-payment, to ensure continued regulatory oversight and enforcement capabilities in the Northern Mariana Islands?"}],"footnotes":""},"categories":[16336,156],"tags":[24134,22674],"class_list":["post-30431","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-regulation-news","tag-imperial-pacific-international","tag-ipi"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/30431","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=30431"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/30431\/revisions"}],"predecessor-version":[{"id":30449,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/30431\/revisions\/30449"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/30284"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=30431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=30431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=30431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}