Imperial Pacific International in danger of losing license
Commonwealth Casino Commission, representing the Northern Mariana Islands, issued a demand to suspend Imperial Pacific International’s license. The request is related to the fees the casino owes to the community, going back to 2018.
IPI’s Casino License Agreement states the company is required to pay a $20 million fee every year to the community benefit fund to support community projects but Charlie Atalig, acting executive director of the commission, said the company failed to meet the annual payments.
It’s not the first time IPI was requested to meet the payments, as in 2019 they also struggled to pay the casino license fee. IPI was reported to still owe $37 million (out of $40 million) for the past two years.
The executive director stated such delay in payments “constitutes a violation of the casino license agreement and breach of contract, both of which constitute offenses.” He also added that failure to comply with the agreement’s requirements “warrants a suspension of the casino license until such time as all required community benefit fund contributions are fully made.”
Furthermore, Atalig insisted the lack of payments could impact the “general welfare of the people of the Commonwealth”, as well as cast the shadow on the gaming industry as a whole.
The commission doesn’t seek to revoke the license, instead requesting IPI to pay a fine of $100,000, in addition to the suspension until the debt has been paid.
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