Receiver begins auction of IPI’s Rolls Royce cars, Crystal Dragons

The receiver appointed to auction off the assets owned by the bankrupt Saipan casino operator, Imperial Pacific International (CNMI) LLC, has started its most recent sale, which will center around IPI’s Rolls Royce collection and its renowned Crystal Dragons.

The Operations Director of Clear Management and a former IPI employee, Danny Ewing, asserted, “We launched the auctions of the Crystal Dragons and the vehicles on March 18 at saipanauction.com.”

Ewing emphasized the superior quality of the properties that IPI had purchased, demonstrating the company’s intention to rival Macau and Singapore in terms of opulence and high-end gaming. Because of their excellent quality, the assets have held their value even though they are a few years old.

Ewing observed that there was a lot of interest in the two Rolls Royce Ghost Extended vehicles, especially from the US mainland, Guam, the Philippines, and the CNMI. These auctions, in contrast to earlier ones, will be conducted live and online, enabling bidders to view bids in real-time.

This year’s first car sale is set to conclude on April 11 and the Crystal Dragon auction on August 22. Ewing highlighted the special artistic value of the Crystal Dragons that adorn the lobby of the Imperial Palace Saipan, pointing out that discussions with potential owners have primarily involved parties from the Middle East.

In order to decide the fate of its casino license in Saipan, IPI is taking part in revocation proceedings with the Commonwealth Casino Commission (CCC) concurrently with these auctions. IPI’s license was suspended in April 2021 as a result of five complaints the CCC filed against the company in 2021, each of which cited noncompliance with a different condition of the licensing agreement.

Original story by: IAG