Imperial Pacific resumes operations

Imperial Pacific was reopened on Sunday. Credits: imperialpacific.com

The casino resumed operations after it had closed for two days due to Tryphoon Yutu.

Saipan.- Imperial Pacific International (IPI)  reopened its doors on Sunday after a two-day closure caused by Typhoon Yutu. The company confirmed the decision in a stock exchange filing on the Hong Kong Stock Exchange.

A letter to employees written by IPI Chairman Mark Brown read that the company had made the “difficult decision to temporarily shut down casino operations… until further notice” due to the typhoon, Macau News Agency reported. The letter also confirmed that Brown would take an assessment on steps that the company had to take to survive the unforeseeable business effects of the natural disaster.

An official report from the casino operator released earlier this year confirmed that half year’s operations experienced a low on revenue. Imperial Pacific reported that the gaming sector achieved €392 million compared to the €780 million registered in the previous period. The company’s statement argues that the decrease was due to the football World Cup and tightening market credits.

The Saipan Casino Control Commission has agreed with Imperial Pacific International to extend its integrated resort (IR) completion deadline until February 28, 2021. The IR was expected to be completed by August 31, 2018, but IPI said it would miss the deadline due to “the drastic reduction and non-availability of sufficient skilled and qualified construction labourers locally in Saipan and mainland USA.”

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