- Casino
- By State
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Georgia
- Florida
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Massachusetts
- Maryland
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
- By State
- Slots
- Poker
- Sports
- Esports
Imperial Pacific May Be Done with the Casino Business in Saipan
It was a long time coming, but the writing was on the wall for anyone who could read it. Imperial Pacific International (IPI) is now – at least temporarily – done as a casino operator in the Commonwealth of Northern Mariana Islands (CNMI). The company has spent the past several years building out the Imperial Palace in Saipan and has spent just as long fighting lawsuits, federal investigations, allegations of misconduct, and more. What probably should have happened a year ago when the Commonwealth Casino Commission (CCC) put IPI on notice has finally happened and the casino operator has had its casino license suspended indefinitely.
Too Many Questions, Not Enough Answers
Over the years, IPI has been investigated by the FBI, the Department of Labor (DOL), CNMI gaming regulators, and more. The CCC has finally had enough and ordered that the operator’s license be suspended as of May 10. The proverbial straw that broke the company was a complaint filed by CCC Executive Director Andrew Yeom, who knows all too well how poorly the company has been running, pointing out some of IPI’s more serious transgressions.
Among the latest financial issues to surface, per Yeom’s admission, were the failure to make good on a $15.5-million annual license fee due last August, failure to miss its $3.1-million regulatory fee due last October, failure to make its obligatory $20-million contribution to the CNMI community benefit fund for 2018 and 2019, failure to adhere to $2-billion capital requirement and failure to adhere to a court order to pay outstanding debt owed to vendors.
A Way Out, But Without Guarantees
As a result, CCC Chairman Edward DeLeon Guerrero, intimately familiar with IPI’s inability to fulfill its obligations, ordered the suspension of the operator’s license “indefinitely until IPI complies” with a new order by the CCC. That order gives the company six months to come up with the funds to cover the $15.5-million casino license fee, the $3.1-million regulatory fee, and a $6.6-million fine. However, no one is overly optimistic that this will happen.
Even if it were able to come up with the money, IPI would still be behind with the other payments. The company has repeatedly made excuses for its inability to cover its responsibilities, including blaming them on the “inexperience” of its chairwoman, Cui Li Jie. IPI, as it has done repeatedly, will likely try to shift blame once again as the six-month deadline approaches, blaming its financial woes on the hardships the COVID-19 pandemic has caused. Completion of an expansion project at the Imperial Palace is well behind schedule and has only fallen further behind during the pandemic.
IPI almost went into receivership a month ago but was able to avoid a further disaster at the last minute. The company was sued by the DOL after it fell behind on employee pay and essentially forced many of its employees to live in squalor with no water or electricity, trapped without money to leave. IPI worked out a deal with the DOL and was given an extension; however, the pattern of incompetence remains intact.
Related Topics:
Erik brings his unique writing talents and storytelling flare to cover a wide range of gambling topics. He has written for a number of industry-related publications over the years, providing insight into the constantly evolving world of gaming. A huge sports fan, he especially enjoys football and anything related to sports gambling. Erik is particularly interested in seeing how sports gambling and online gaming are transforming the larger gaming ecosystem.
Must Read
Casino
February 13, 2025
Kewadin Casinos Slowly Recovering After Devastating Cyberattack
Casino
February 14, 2025
Boyd Gaming Acquires Land Under Eastside Cannery
More Articles
Industry
February 18, 2025
North Carolina: 58% of Residents Favor Casinos on Non-Native Lands
Industry
February 18, 2025
PA Gambler Fails to Collect $57K Jackpot Due to Self-Exclusion
Casino
February 18, 2025
Thailand Makes Changes to Casino Bill to Deal with Public Concerns
Industry
February 17, 2025
New Jersey iGaming Expanded, Sports Betting Slowed Down in January
Industry
February 17, 2025
Detroit: City Offers Aid After Child Freezing Tragedy at Casino
Industry
February 17, 2025
Nostalgia Attracts Players, Top Mechanics Keep Them Hooked
Industry
February 17, 2025
Breaking Down the 2025 NY Casino License Race and Bidders
Casino
February 14, 2025
ACMA Moves Against Offshore Gambling Sector in Australia
Casino
February 14, 2025
Pro Gambler “Lord Lester” Jailed for a Cruise Company Scam
Casino
February 14, 2025
Aristocrat Rethinks Its Approach to Social Gaming
Casino
February 14, 2025
Boyd Gaming Acquires Land Under Eastside Cannery