{"id":35567,"date":"2022-11-18T12:17:01","date_gmt":"2022-11-18T15:17:01","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=35567"},"modified":"2026-04-23T02:50:04","modified_gmt":"2026-04-23T05:50:04","slug":"cnmi-court-approves-ipi-gaming-equipment-sale-worth-410000","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/cnmi-court-approves-ipi-gaming-equipment-sale-worth-410000","title":{"rendered":"CNMI Court approves IPI gaming equipment sale worth $410,000"},"content":{"rendered":"\n

IPI wants the court to wait until IPI’s appeal is resolved before confirming the sale.<\/p>\n\n\n\n\n\n\n\n

Northern Mariana Islands.- Chief Justice Ramona Manglona<\/strong> has approved a request from IPI\u2019s receiver Clear Management to sell IPI gaming equipment worth $410,000.<\/p>\n\n\n\n

The motion to grant was supported by the plaintiff USA Fanter, whose attorney Samuel Salyer told the court that it had no position on the reasonableness of the amount. Judge Manglona ordered Clear Management Ltd<\/strong> to file an interim report on IPI’s list of creditors.<\/p>\n\n\n\n

The judge also considered a request by the CNMI Department of Finance-Division of Revenue and Taxation to participate in receivership. The CNMI government says IPI owes tax payments of US$9.4m, US$176,880 and US$812,048. That’s not including additional penalties, interest and fees that may have accrued. IPI<\/strong> was granted the right to object but had an oral motion to stay the receivership denied.<\/p>\n\n\n\n

IPI says it could resume gaming operations in first quarter of 2023<\/h2>\n\n\n\n

IPI has claimed that it could resume operations <\/strong>at its casino on Saipan in the first quarter of 2023<\/strong>. That\u2019s if it can reach an agreement with the Commonwealth Casino Commission (CCC).<\/p>\n\n\n\n

According to Asian Gaming Brief, IPI has proposed changes to the Commonwealth of the Northern Mariana Islands (CNMI) regulatory framework. It wants to replace its annual licence fee with a gaming licence fee based on a percentage of its net profit (with preset minimum and maximum amounts). It also seeks to separate the operation and regulation of IPI\u2019s hotels from its casino operations.<\/p>\n\n\n\n

The company also hopes to negotiate a waiver of license fees from 2020 and 2021 and a reduction in the amount paid at the end of the term of its casino licence agreement. IPI has also asked for the dismissal of the ongoing CNMI Supreme Court case and the CCC order that resulted in the suspension of its casino operations<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

IPI wants the court to wait until IPI’s appeal is resolved before confirming the sale.<\/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) faces ongoing financial and regulatory challenges in the Northern Mariana Islands, with a court approving the sale of its gaming equipment by receiver Clear Management amidst significant tax arrears. IPI is proposing substantial changes to the CNMI's regulatory framework, including a shift to a percentage-based gaming license fee and the separation of hotel and casino operations, in an attempt to resume its Saipan casino operations in Q1 2023 and resolve outstanding legal and financial obligations.","focusai_entities":"Imperial Pacific International, IPI, Clear Management, USA Fanter, Samuel Salyer, Ramona Manglona, CNMI Department of Finance-Division of Revenue and Taxation, Commonwealth Casino Commission, CCC, Asian Gaming Brief","focusai_location":"Northern Mariana Islands, Saipan, Commonwealth of the Northern Mariana Islands, CNMI","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 Recovery Viability?","query":"What is the probability of IPI successfully negotiating its proposed regulatory framework changes with the Commonwealth Casino Commission, and what are the key financial and operational milestones required for a sustainable resumption of gaming operations?"},{"label":"Regulatory Precedent?","query":"What precedent would IPI's proposed shift from a fixed annual license fee to a percentage-based NGR\/GGR model set for other operators or future market entrants in the CNMI or similar emerging jurisdictions?"}],"footnotes":""},"categories":[16336,157],"tags":[24134],"class_list":["post-35567","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-business-news","tag-imperial-pacific-international"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/35567","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=35567"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/35567\/revisions"}],"predecessor-version":[{"id":35593,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/35567\/revisions\/35593"}],"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=35567"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=35567"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=35567"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}