More time for Imperial Palace Saipan developer

Operator granted 42-month extension:

According to a report by Radio New Zealand, the Hong Kong-listed casino operator obtained the 42-month extension from the American territory’s Lottery Commission after last week saw it reveal that it had been not going to be able to meet a previous government-mandated August 31 deadline.

Casino license contingent upon hitting deadline:

Imperial Pacific International Holdings Limited started welcoming gamblers to the $650 million Saipan place to enjoy a range of several 350 slots and 200 gaming tables in July of 2017. However a deal inked with the regional Lottery Commission three months before made the license with this first-phase opening determined upon the land ’s 350-room resort being fully operational at the end of last month.

But, the operator explained last week in submitting an application for an extension that work on its own Imperial Palace Saipan had fallen behind schedule because of a lack of skilled construction workers brought on by flaws in the issuance of new immigration and labor laws.

Further conditions added:

In exchange for being granted the extension, Imperial Pacific International Holdings Limited has consented to make a contribution of $500,000 to the Commonwealth Healthcare Corporation, which runs the territory’s sole hospital, also shell out $5,000 for every subsequent day of delay.

Operator said to be making ‘progress’:

According to a subsequent piece from the Marianas Variety newspaper, Friday saw officials from the Commonwealth Casino Commission announce that the operator had made ‘progress’ in finishing the structure of 15 outside Imperial Palace Saipan villas.

However, Juan Sablan, Chairman for the Commonwealth Casino Commission allegedly stated that Imperial Pacific International Holdings Limited should accelerate work up by initiating an undercover schedule.

“There’s still a great deal of work that should be carried out. ”