Embattled Saipan casino operator Imperial Pacific International has offered to transfer its casino license to a new investor and leave the island peacefully under the terms of a new settlement agreement it reached last week with the Commonwealth Casino Commission (CCC).
It also agreed to give up the exclusivity of the license to pay US$31 million in arrears license payments and US$16 million for the lifting of its license suspension in a bid to avoid having the license revoked entirely. However, that proposal has been rejected by CNMI Governor Arnold Palacios following the conclusion of last week’s revocation hearing.
In comments reported by local media outlet Marianas Variety, IPI Director Howyo Chi told last week’s hearing, “IPI is looking for a way to settle this amicably. It’s not our intention to go through this messy revocation process that could drag on for years to come.”
