he Commonwealth Casino Commission (CCC) board has placed Imperial Pacific International’s (IPI) gaming licence on indefinite suspension. IPI is required to pay $6.6m within six months, with $15.5m in annual casino exclusive licence fees and $3.1m in annual casino regulatory fees, reports the Saipan Tribune.
At a regular monthly meeting at the CCC conference room at the Springs Plaza in Gualo Rai, all five commissioners adopted a consolidated final order pertaining to CCC executive director Andrew Yeom’s five consolidated complaints against IPI.
The five complaints against IPI include failing to pay the annual regulatory fee on 1 October 2020 and annual casino licence fee by 12 August, failure to comply with a CCC order to settle amounts owed to vendors, failure to comply with the minimum capital requirements of the order, and lack of $40m contribution to the community benefit fund in 2018 and 2019 as required by the casino licence agreement.
“We are suspending the licence indefinitely until IPI complies with those orders,” said Guerrero. “So CCC is penalising IPI $6.6m for all the violations noted in the five enforcement actions, and they must pay this not to exceed six months.” The order will likely take effect on 10 May.
If IPI fails to make the payments, the CCC will likely seek revocation of licences, though the operator does not contest the complaints against it.