• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Saipan casino licence winner again delays market dispatch

Sep 19, 2014 Newsdesk Latest News, Macau, Top of the deck, World  


Saipan casino licence winner again delays market dispatch

Macau junket investor Imperial Pacific International Holdings Ltd has announced an eighth delay in giving formal details to the Hong Kong Stock Exchange over its major transaction concerning a casino licence on the Pacific island of Saipan (pictured).

The firm has set a new deadline of October 10 for the relevant disclosures, it said in a filing on Friday. It first formally announced its bid for a Saipan licence – including the payment of a US$30 million refundable deposit – on May 7.

On August 13 Imperial Pacific, formerly a dormant listed entity called First Natural Foods Holdings Ltd, said in a filing it had pledged to spend US$3.14 billion – 50 percent more that it had mentioned previously – in order to secure a casino licence conditionally granted to it by the Lottery Commission of the Commonwealth of the Northern Mariana Islands. The jurisdiction is a U.S. territory.

Imperial Pacific – while still known as First Natural Foods – in March completed a HKD400 million (US$51.6 million) deal for a share of Macau junket promoter Hengsheng Group’s profit stream.

Analysts from Credit Suisse AG in Hong Kong said on Wednesday in a note that Macau junkets were increasingly taking players to overseas destinations “in light of the current sensitive political situation” – a reference to the widely reported corruption crackdown in mainland China.

Scheduled flights currently operate between Shanghai in China and Saipan, with an average flying time of four hours and 20 minutes.

On August 22, Imperial Pacific warned the Hong Kong bourse that it expected to record a significant loss for the six months to June 30, 2014.


  • tweet
Related articles
  • Morgan Stanley dips Macau 2021 GGR outlook on weaker VIP
    Morgan Stanley dips Macau 2021 GGR...

    Jan 08, 2021  

  • Kangwon Land granted new 3-yr casino licence to Dec 2023
    Kangwon Land granted new 3-yr casino...

    Dec 30, 2020  

More news
  • Face tech ATMs in mainland’s Zhuhai near Macau say reports
    Face tech ATMs in mainland’s Zhuhai...

    Jan 19, 2021  

  • Investors see 2H Macau gain, rebound 2022: Bernstein
    Investors see 2H Macau gain, rebound...

    Jan 19, 2021  


Latest News

Face tech ATMs in mainland’s Zhuhai near Macau say reports

Face tech ATMs in mainland’s Zhuhai near Macau say reports

Jan 19, 2021  

Bank automated teller machines (ATMs) with facial recognition technology have been installed since Monday in some places in the mainland China city of Zhuhai, next door to Macau, according to several...
Read More
Investors see 2H Macau gain, rebound 2022: Bernstein

Investors see 2H Macau gain, rebound 2022: Bernstein

Jan 19, 2021  

MBS ArtScience Museum to host Star Wars exhibition

MBS ArtScience Museum to host Star Wars exhibition

Jan 19, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day

"We forecast Grand Lisboa Palace will have EBITDA of HKD2.0 billion (US$260 million) with 330 tables by 2022, and HKD3.5 billion with 380 tables by 2023"

Credit rating agency Fitch Ratings




Most Popular

  • CNY 2021 unlikely to boost Macau casinos, say observersCNY 2021 unlikely to boost Macau casinos, say observers January 15, 2021
  • Police find US$11m of missed Landing cash, suspects soughtPolice find US$11m of missed Landing cash, suspects sought January 14, 2021
  • Still Asia focus for LVS post chairman death: BernsteinStill Asia focus for LVS post chairman death: Bernstein January 14, 2021
  • Quality fake chips sold online found at Macau casinoQuality fake chips sold online found at Macau casino January 13, 2021
  • Melco Resorts debt/EBITDA ratio to worsen in 2021: Moody’sMelco Resorts debt/EBITDA ratio to worsen in 2021: Moody’s January 14, 2021
Copyright 2014-2020 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us