IPI Manager: Garapan Casino Needs Substantial Investment

Imperial Pacific International (CNMI) LLC director/general manager Howyo Chi declared that IPI will contribute $150 million to finish the Garapan casino/resort.

Chi voiced concerns on the availability of construction labor during a board meeting of the Commonwealth Casino Commission.

He emphasized that companies in Korea and Japan were eager to collaborate with IPI.

In response to inquiries concerning the hiring of foreign workers, Chi mentioned a four- to five-year ban that went into effect in 2020.

After agreements are reached with the US Department of Labor, they anticipate being able to employ foreign laborers for construction projects.

Prior to the operational phase, plans call for the appointment of a Chief Executive Officer, after which receivership procedures will be suspended by filing for Chapter 11 bankruptcy.

More than $150 million in lawsuits added to the financial burden, forcing IPI to file for Chapter 11 bankruptcy and halting CCC talks. Additionally, the parent company of the Saipan casino was ordered to be dissolved by the High Court of Hong Kong.

Original Story by: Asian Gaming Brief