Imperial Pacific’s casino license suspended, ordered to pay US$25 million
Imperial Pacific has been ordered to pay outstanding fees “immediately” and its casino license also been suspended.
Imperial Pacific is a Chinese investment company with headquarter in Hong Kong
Casino promoter Imperial Pacific International Holdings Ltd has confirmed that its license for the US jurisdiction of Saipan has been suspended, and its local operating unit Imperial Pacific International LLC has been ordered to pay fees amounting to US$18.6 million, and a fine of US$6.6 million.
The parent stated in its announcement to the Hong Kong Stock Exchange that the Saipan regulator, the Commonwealth Casino Commission, had issued the suspension decision for Imperial Palace Saipan, and also ordered the casino operator to pay US$18.6 million in annual license and regulatory fees “immediately”, and total penalties of US$6.6 million, the latter to be settled within six months.
The Saipan Tribune newspaper reported last week that if the local operating unit did not settle the outstanding amounts, that the regulator would seek revocation of the license.
In the last Friday filing, the casino operator’s parent company also clarified that casino operations at its venue had been paused since mid-March last year.
The parent company also added: “The group is using its best endeavors in working towards satisfying the above mentioned sums in order to lift the suspension of license.”
Separately, Marianas Variety reported that the local regulator had also suspended issuance of any junket license for Imperial Pacific International. It said that the decision followed concerns expressed by Ralph Torres, governor of the Commonwealth of the Northern Mariana Islands.
It is said that on April 8 Governor Torres had sent a letter to the regulator expressing concern about use of junkets because of Chinese government’s criminalization of those that promote cross-border gambling.
Editing by Rachel Hu
