Imperial Pacific increases net profit

Credits: G3 Newswire
Credits: G3 Newswire

The casino operator from Saipan saw net profit rise 8.9 percent during the first half of the year.

Saipan.- Imperial Pacific International (IPI) revealed that the company experienced a net profit rise during the first six months of 2017 to US$116 million. The casino that obtained the permission from the Commonwealth Casino Commission (CCO) to launch gaming operations at the Imperial Pacific Resorts in June said that the revenue increase was driven by VIP gamblers.

The operator said during a filing that gross revenue for H1 increased to US$933 million, up from the US$508 million registered during the same period in 2016. IPI said that the growth was due to an increase in operating profits generated by the temporary casino that was opened before Imperial Resorts, Best Sunshine Live, during the six month period.

“Going forward, we will continue to review our mass gaming areas to maximise table utilisation, to expand or refurbish our gaming areas, to innovate our gaming products and to invest in technologies and analytical capability to enhance table productivity and customer retention,” said the operator. Moreover, IPI confirmed that the rise in CNMI arrivals also helped the results. The Marianas Visitors Authority confirmed that during the first half of 2017 total visitor arrivals grew 37.4 percent to 333,960.

Earlier this month it was reported that the Imperial Pacific casino would be evaluated by the Senate Committee on Gaming, which would begin its assessment next month with a visit to the venue. The Committee chair Sen. Justo Quitugua has urged the Commonwealth Casino Commission (CCC) for documents to prove “an in-depth understanding of the financial aspects of the gaming industry.”

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