Tinian Dynasty on track for casino license

According to the Tinian Gaming Commission, the application by Tinian Entertainment Co. (TEC) is “substantially complete” to assume casino operations.

The announcement came after the resort’s existing owners, Hong Kong Entertainment, said it will completely close both the hotel and casino this month. Chairman of the company, Wai Chan Chan, wrote a letter to Tinian Mayor JP San Nicolas to confirm the closure, indicating the devastation caused by Typhoon Souledor sunk revenues and left the business unviable.

Tinian Dynasty closed its casino temporarily in August as guest levels were at all time lows, resulting in the loss of 135 employees. The property has been a major contributor to the Tinian economy since opening in 1998, contributing about $3m annually to government coffers. Another 600 jobs are on the line that is prompting the new license to be granted.

“It was inevitable that the hotel would all together close, once the casino operations closed,” said the Mayor. “I hope that now that TEC’s application is finally deemed to be substantially complete, the investigation process can be expedited, so that if TEC is found to be a fit applicant, they can assume operations of the casino.”

Approval for the license follows an agreement made between Hong Kong Entertainment (Overseas) Investments, Tinian Entertainment Co. and the Tinian Gaming Commission to transfer ownership of the resort after Hong Kong Entertainment was fined $75m by FinCEN earlier this year for violating the US Bank Secrecy Act for a period dating back seven years.

Gaming Commission Director, Lucia Blanco-Maratita, said the process would be advanced without compromising regulations. “While the commission understands the concerns of Tinian leadership about the closure of the Dynasty, the commission is also very cognizant of its responsibility of ensuring only suitable persons are given a casino license,” said Blanco-Maratita.

We expect to have the investigations into the suitability of the company and individuals done within 45 days,” added the Gaming Commission Director . “If the company and individuals are found suitable by the commission based on what the investigations reveal, then they will be eligible for an interim casino authorization while the suitability determination for a casino license continues.”