IPI aiming for financial lifeline from JV Chinese partner, Sino Travel Samoa

Saipan based casino Imperial Pacific Holdings (IPI) recently announced that it has entered into an exclusive cooperation agreement with two third party operators to underwrite the leading of 250 hotel rooms and set up a shopping mall at the Imperial Palace resort.
The latest agreement comes amidst negotiations between the Commonwealth Casino Commission (CCC) and Imperial Pacific Holdings (IPI) over the latter’s casino license. The operation of the casino operation in Saipan has been suspended since April 2021, following a closure in March 2020 due to the COVID-19 pandemic.

Imperial Pacific Holdings have been actively seeking a settlement with the CCC in order to resume the casino resort developer license as soon as possible and the income generated from the resort and leisure travel component is aiming to maximize shareholder’s value.

Source: https://agbrief.com/news/pacific-islands/24/06/2022/ipi-aiming-for-financial-lifeline-from-jv-chinese-partner-sino-travel-samoa/