IPI drops lawsuit against regulator, governor citing ongoing negotiations

Imperial Pacific International (IPI), the troubled casino operator on Saipan, has requested that the federal court dismiss its lawsuit against the governor and regulator, citing ongoing settlement negotiations.

These talks have led to a third postponement of IPI’s casino license revocation hearing, originally scheduled on January 31st, to February 12th, according to local media reports.

According to Marianas Variety, the court dismissed the lawsuit against CNMI Governor Arnold I. Palacios and the Commonwealth Casino Commission (CCC) on Wednesday after approving IPI’s petition.

In addition to requesting an exemption from all regulatory charges and a court order requiring the CCC to make up for all prior regulatory payments, the action claimed a breach of the Casino License Agreement.

Due to IPI’s past failure to pay regulatory fees, the CCC suspended its license in 2021. This issue is still critical to the revocation hearing, which has been postponed.

Executive Director Andrew Yeom of the CCC told the Commission this week that settlement negotiations are in progress due to IPI’s decision to drop their legal lawsuits, and they hope to reach a meaningful conclusion in February.

Original story by: IAG