Commonwealth files complaint against IPI
The Commonwealth Casino Commission targeted IPI and filed a complaint against the operator for not paying the full €13.5 million annual licence fee.
Northern Mariana Islands.- Imperial Pacific International (IPI) seems to be unable to catch a break. Amid several issues related to its Saipan development, the Commonwealth Casino Commission (CCC) filed a complaint against IPI over licencing fees.
CCC Executive Director Edward Deleon Guerrero explained the company didn’t pay the full €13.5 million annual licence fee. The Commonwealth has given IPI 15 days to “cure” the deficiency, Deleon Guerrero was quoted by the Marianas Variety.
“We have issued a complaint today that is going to the commission. That is the way we’re going to enforce this. Now IPI has 15 calendar days to cure the deficiency.”
Selling stakes
Imperial Pacific International Holdings Ltd will sell 9.79% of the company to fund its Saipan casino. The company’s controlling shareholder made the decision to help with the cost of the resort, which continues to trouble them.
Guan Lian Capital Holdings Group Ltd got the right to buy 14 billion shares, they told the Hong Kong stock exchange. That’s a considerable amount of the almost 90.76 billion shares it held in Imperial Pacific International Holdings.
Recent developments
Its Saipan casino is soon to open, even as it struggled with worker complaints and strikes. As it plans to open it over the next few weeks, IPI Saipan announced the hiring of 100 Italian workers.
The new workforce will target the facade of the company’s development on the island. IPI Saipan’s new workers arrived on the island over the last few days and will rush to finish the project.
Imperial Pacific International Holdings announced it expects to open the casino resort by September 30, 2019.
