IPI eyes reopening, though business model doubtful

Imperial Pacific International (IPI) says it’s on track to reopen its casino on Saipan in November, though there remains significant doubt over its future and over the feasibility of its business model.

IPI’s license to operate its casino was suspended in April last year for failure to pay its regulatory fees to the Casino Control Commission (CCC). The CCC had been seeking to revoke the license completely after continued non-compliance.

However, the United States District Court for the Northern Mariana Islands stepped in earlier this year to grant a temporary restraining order against a meeting convened to strip the license to allow more time to resolve outstanding issues. That order has been extended until July 7th.

Now IPI says it has made significant progress in its talks with the regulator and expects to sign an agreement by the end of June. It said in its annual report that it’s actively planning for a reopening of the casino in November.

Source: https://agbrief.com/intelligence/30/06/2022/ipi-eyes-reopening-though-business-model-doubtful/