Imperial Pacific agrees to settlement over winding-up bid
Imperial Pacific is the backer of the Imperial Pacific Resort on the Pacific island of Saipan, which opened its doors in July. Until then, the company had been running a temporary gaming facility on Saipan called Best Sunshine Live. Saipan is part of the Commonwealth of the Northern Mariana Islands, a U.S. Pacific jurisdiction.
The agreement to pay the disputed HKD2.6-million (US$333,255) bill for construction management fees was signed on Wednesday.
“Mace Ltd shall submit an application to the High Court of Hong Kong for withdrawal of the winding-up petition and obtain the sealed order from the court as soon as possible,” read a filing from Imperial Pacific.
The casino investor had said in a Tuesday filing it was to fight Mace over the disputed bill.
For the first half of 2017, Imperial Pacific posted a net profit of HKD912.0 million, up 8.9 percent from the prior-year period.
Thailand legislative panel seeks to legalize all forms of gambling with 5 new casinos
Netherlands bans celebrities and influencers from appearing in gambling ads
UK gambling law reform negotiations embattled over football shirts sponsoring ban, mandatory levy proposals
888 completes non-US William Hill acquisition from Caesars; former CEO Ulrik Bengtsson leaves the company
GLI Africa celebrates 100 employees milestone
BetMGM partners with Tom Joyner Foundation to enhance career options for HBCU students
MGM, Wynn and Sands CEOs to share a virtual panel on the future of casinos
