Published
Casino

Imperial Pacific International threatened with casino licence suspension

Imperial Pacific International (IPI) is facing a suspension of its casino licence after it was found violating multiple regulatory rules.

imperial

Commonwealth Casino Commission (CCC) executive director Andrew Yeom stated the company admitted to five cases of wrongdoing. 

These violations include failure to pay the $3.1m annual regulatory fee and $15.5m annual casino licence fee, failure to comply with CCC’s attempts to have the company settle its debts with vendors, as well as failure to contribute $20m paid annually to community benefit fund in 2018 and 2019 as required by the Casino Licence Agreement. 

“We’re asking for a licence suspension of an indeterminate amount until they fully comply with the orders that they have violated,” said assistant attorney general Mike Ernest.

Reportedly, the maximum fine for all the violations is close to $808m, but Yeom requested for IPI to pay only $5m. 

Yeom said the company does not respect the regulators, so he asked “for the commission to impose a penalty that impresses upon IPI the need to start following the Commonwealth law and to start respecting the CCC.” 

If IPI does nothing about the violations, it’s possible the commission could revoke its casino licence. 

“The casino investor should have simply said that they have no money, and that they are facing receivership,” said Ernest. “Clearly they had better things to do than following our orders.” 


Casino News Sponsor
Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Soft2Bet
Scientific Games
Digitain Malta
Follow Us

Facing Facts: Q3 2024 analysis

Gambling Insider takes a look at the Q3 results of operators...

Taking stock: The final count of 2024

Gambling Insider tracks operator and supplier prices of some...

CEO Special: Flutter CEO Peter Jackson – Playing to win

As the biggest publicly traded operator in gambling meets th...

CEO Special: Holland Casino CEO Petra de Ruiter – High flier

Petra de Ruiter, Holland Casino CEO, speaks to Gambling Insi...

A welcome from your host

A message from the Founder of the Global Gaming Awards and G...

From the event manager

A message from the Event Manager of the Global Gaming Awards...

From the Awards adjudicator

KPMG in the Crown Dependencies is the official voting adjudi...

The process

The Global Gaming Awards have deservingly earned the reputat...