Imperial Pacific seeks $6m for phase one
The casino developer is trying to raise US$6 million for the first phase of the casino located in Saipan.
Saipan.- Imperial Pacific International Holdings Ltd (IPI) announced on Friday during a filing to the Hong Kong Sock Exchange that the company is seekingUS$6 million that would be destined to the first phase of the Imperial Pacific casino.
As GGRAsia reported, the convertible bonds related to the announcement are set to offer 4 percent interest annually, with payments every six months, on June 20 and December 31. Whilst the conversion price is set at HKD0.176 per conversion share, the number is up for changes. Earlier this month, Saipan authorities granted the operating license to the new casino. IPI fulfilled the Commonwealth Casino Commission’s requirements as to health and safety regulations. Operators adapted the casino with new fire alarm system, as well as the company committed to hire personal for fire watch, an independent safety consultant and general clean up.
The new gambling facility casino would feature around 200 to 300 gaming tables and 300 to 400 slot machines. The 350-suite resort is being designed by Steelman Partners LLP, which has been involved in the design of several large casinos in Asia and elsewhere.
