Director-manager of Imperial Pacific resigns from company

Director and manager of Imperial Pacific International (IPI), Dongting Zheng, has left the company that has the gaming license for Saipan. The new manager/director of IPI is How-Yo Chi.

The corporation was the subject of two winding-up petitions in Hong Kong, according to IPI, for allegedly failing to pay a judgment of HK$20.8 million ($2.7 million), plus interest and costs.

On April 1, 2022, the Commonwealth of the Northern Mariana Islands (CNMI) Stock Exchange suspended trading in its shares. This suspension will last until further notice.

IPI has had many difficulties in the past with payments and debt, such as requests for payment exceeding $25 million from the Commonwealth Casino Commission (CMNI). Some stories state that the company has paid off $1 billion worth of debt in the past three years—more than the whole Las Vegas Strip did in the ten years before.

Original story by: Asia Gaming Brief