Imperial Pacific’s Gaming License Decision Shifts to April 22nd

The Commonwealth Casino Commission (CCC) has set April 22nd as the deadline for reaching a settlement agreement with Imperial Pacific International (IPI) on its gaming license, following lengthy negotiations.

After a four-hour debate, the CCC and the Office of the Attorney General were unable to come to an agreement on a settlement with IPI, therefore the saga went on on Wednesday.

It has been alleged that IPI owes the Commonwealth of Northern Mariana Islands (CNMI) over $62 million in unpaid casino license payments. This is equivalent to almost four years’ worth of annual license fees.

The CCC commissioners decided to put off discussing whether to revoke IPI’s exclusive gaming license. The commissioners convened an executive session to deliberate legal matters after Executive Director Andrew Yeom emphasized that no settlement was in the works.

They then indicated that they would probably continue their discussions by deferring until the next day in order to obtain more legal counsel.

Yeom stressed the significance of reaching a deal to support the CNMI gaming industry and economy during the debate. But despite lengthy discussions, progress was hampered by the legal difficulties surrounding IPI’s debt.

According to Kuam News, Yeom expressed hope that the settlement postponement that was agreed upon will serve as the final deadline. He declared that the commission would cancel IPI’s exclusive gaming license if the Attorney General rejected the deal.

The commission approved the extension, leaning toward a settlement instead of an expedited termination of the license. Nevertheless, impromptu discussions revealed that the Attorney General’s office considered the proposed settlement to be insufficient in legal terms.

IPI’s gaming license will be decided upon on April 22nd, however the conclusion of the negotiations is still up in the air.

Original Story by Asia Gaming Brief