IH Group has announced it plans to build a 1,100-room hotel and casino on the island of Rota in the Northern Mariana Islands. The project was announced by the Group’s leaders Il Hwan Kim and Edward Atalig Hocog Jr.
The combined hotel and casino will cost $10bn and will take a decade to be complete.
In a letter sent to Efram Atalig, the mayor of Rota, Kim IH’s president explained that after he is granted the right to establish himself in the commonwealth, he would begin the necessary steps including licensing applications in order to operate a casino.
If all goes well Kim expects the construction to be underway by 2017.
The first phase, the hotel casino, is expected to cost $1bn to build and will include 500 rooms and a vacation hotel with 500 more rooms and 100 cottages. In addition IH will offer shopping facilities, and cruise ship and airline services.
Atalig has expressed his support for the proposal which has seen IH partner up with IH Corporation, KSA Corporation and Island Paradise Hotel.
Kim explained that the waiting period does not stop IH from proceeding with proposals for its projects, stating: “I would like to thank you (Mayor Atalig) and the Municipality of Rota for allowing us to share our vision for the island of Rota. The Kim family and company vice president Edward A. Hocog are truly grateful for our partnership.
“We look forward to your assistance and support in regards to IH Group’s project as this will improve and enhance Rota’s socio-economic development and prosperity for the island of Rota and its people.”