Imperial Pacific sets deal in Saipan

Imperial Pacific International Holdings has confirmed an agreement with construction consultancy Mace Ltd.

Northern Mariana Islands.- The recently inaugurated casino in Saipan, Imperial Pacific, is surpassing the expectations, whilst its Hong Kong operators are taking steps towards new projects. The Asian company Imperial Pacific International Holdings announced an agreement with Mace Ltd over the latter’s court bid to wind up the local gaming venue over a disputed bill.

The agreement was set last week with a construction consultancy called Mace Ltd, as reported by the company. Furthermore, a previous settlement with the company to pay the disputed US$333k bill for construction management fees was struck on Wednesday.

Since its opening earlier this year, the casino has been noting optimistic results: 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.