Macau casino experts to be hired in Saipan

Marianas Stars Entertainment and Best Sunshine International have only a week from today or up to May 5 to deposit US$ 30 million each in an escrow to be further considered for a grant of an exclusive casino license.

Funding to hire the independent investigator and gaming consultant will come from the US$ 2 million in nonrefundable application fee that the two applicants paid the CNMI government.

Inos said they are hiring these experts from Macau, where the casino industry is much different from the ones in Las Vegas, Nevada. Tinian Dynasty Hotel & Casino, the only operating casino in the CNMI, like many casinos in Macau, targets the Chinese market.

The Lottery Commission, meanwhile, has started individually reviewing the applications submitted, ahead of a formal commission meeting later this week.

Lottery Commission chair Sixto Igisomar, who is also the Commerce secretary, said there will be an advance public notice about the date and time of the panel’s first meeting to discuss the casino applications and on the meeting day itself, the public may be able to attend a portion of the meeting before an executive session is called. So far, only Marianas Stars Entertainment Inc. has a license to do business in the CNMI. It was incorporated on Saipan.

Marianas Stars Entertainment, an indirect subsidiary of Chinese Strategic Holdings, plans to build a 2,000-room hotel including dining and shopping facilities in addition to developing a casino. Only 25 percent of Marianas Stars is owned by Mega Stars Overseas, the new owner of Tinian Dynasty Hotel & Casino. Owning 75 percent of Marianas Stars is Famous Treasure, a company incorporated in the British Virgin Islands and a wholly-owned subsidiary of Chinese Strategic Holdings.

Hong Kong-based Best Sunshine International Ltd., meanwhile, is a wholly-owned subsidiary of First Natural Foods Holdings Ltd. It has not been incorporated in the CNMI nor has it applied for a business license in the CNMI as of yesterday. It proposes to change its name to “Imperial Pacific International Holdings Ltd.” to provide a better identification for the company as it further diversifies its business, including adding eco-tourism and gaming to its portfolio.

Whichever of the two investor groups is granted a license to exclusively operate a casino on Saipan is required to build a hotel-resort with at least 2,000 rooms and an initial investment of US$ 2 billion.