Best Sunshine seeks USD 550M for hotel-casino project in Garapan
According to Commonwealth Casino Gaming Commission executive director, Edward Deleon Guerrero, BSI is not seeking the approval of the commission but rather large financial institutions such as SC Lowry, Standard & Poor, and Morgan Stanley want to scrutinize the regulatory processes that govern the casino industry in the Northern Mariana Islands.
“They came before us not for approval, but to try to understand the regulatory process of the commission, as BSI is trying to secure funding for the completion of Grand Mariana,” Deleon Guerrero said.
The financial banking institutions are very comfortable, and confident in BSI’s ability, and low risk. The executive director also alluded to a disclosure that the banking institutions are comfortable with a $400 million funding for the Grand Mariana Resort & Casino.
In fact, he said, documentation pertaining to this funding will be presented soon to the media and public.
In an earlier report, BSI objected to public disclosure of the meeting discussion in which the commission responded that they are bounded by the Open Government Act, unless it is an individual’s personal information.
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