Recent controversies involving casinos
What was supposed to be the crown jewel of the Imperial Pacific International Holdings Group in Saipan, its integrated resort was scheduled to be finished this month. Some local politicians are calling for amendments to the existing gaming law that would allow the issuance of more casino licenses. Imperial effectively has a monopoly on the casino industry in Saipan because the company holds the sole license and operates all of the island’s casinos. With the deadline of August 31, 2018, for the completion of the Imperial Pacific Resort coming up fast and not to be met , the calls for changes in the gambling laws will only grow stronger. The only casino license is held by the Imperial Pacific International Holdings Casino, a company that originated in China and is listed on the Hong Kong stock exchange. The company creates and maintains hotels and casinos throughout the islands and is one of the largest taxpayers in Saipan. It was given a 25-year license in 2014 to construct and operate the casinos on Saipan. With more than $2bn (£1.55bn) wagered every month in the various casinos on the island, this has a positive impact on the local economy. Imperial Pacific’s planned high roller casino expansion in Saipan has been delayed yet again. Hong Kong-based Imperial Pacific International Holdings first started planning its mega-casino development on the island of Saipan, which is a US territory, four years ago. This is significantly greater than the size of uncollected high roller debts seen at the leading Macau casinos. Now, it can add Imperial to aid it in attracting high rollers to its casinos. Imperial Pacific was also given an extension of two and a half years to allow it more time to develop the 340-room hotel that will be built alongside its gambling offering.