• 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
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Imp Pacific talks on annual fee, says exclusivity breached

Sep 01, 2020 Newsdesk Latest News, Top of the deck, World  


Imp Pacific talks on annual fee, says exclusivity breached

Imperial Pacific International Holdings Ltd, the developer of a casino resort on the Pacific island of Saipan, says it is still negotiating with the local authorities the settlement of the US$15-million annual casino licence fee. The information was included in the company’s interim report, filed on Monday to the Hong Kong Stock Exchange.

Imperial Pacific is said to have failed to pay the licence fee by the August 12 deadline, and it received a notice of intent from the local governor stating that its gaming licence could be suspended or revoked.

The Hong Kong-listed firm operates the still-under-construction property Imperial Palace Saipan (pictured in a file photo) on Saipan, in the Commonwealth of the Northern Mariana Islands (CNMI), a United States jurisdiction.

In a separate development, the chief executive of Imperial Pacific’s local unit in Saipan, Donald Browne, wrote a letter to the local authorities claiming that the group’s exclusive rights to gaming activities in Saipan – as stated in the casino licence agreement – had been breached, as the local authorities had allowed electronic gaming and poker arcade operations on the island.

“Imperial Pacific International (CNMI) LLC was never provided the exclusivity agreed to in the casino licence agreement. The unusually-high annual licence fee of US$15 million was only agreed to by Imperial Pacific in return for ensuring the exclusive rights provided for in the casino licence agreement,” Mr Browne wrote in the letter, according to local media reports.

The CEO asked the local authorities to allow the company to postpone paying the latest annual casino licence fee, and urged them to reduce the US$3-million regulatory fee to US$1 million, as the group’s casino operations have been temporarily suspended since March 17 as a countermeasure locally against Covid-19.

On Monday, the parent company reported a net loss of just above HKD797.9 million (US$103.0 million) for the first half of 2020, as the group’s revenue fell by 93.3 percent year-on-year, to HKD26.7 million. The company said its operations had been negatively affected by the Covid-19 outbreak.

The half-year result was still an improvement from the HKD1.88-billion loss recorded in the first six months of 2019.

For the latest reporting period, revenue from VIP gaming operations was negative to the tune of HKD24.7 million, compared to a positive result of HKD254.7 million a year earlier. Revenue from mass-market operations and slot machines was HKD32.8 million and HKD12.8 million respectively, down 66.4 percent and 57.5 percent in year-on-year terms.


  • tweet
Related articles
  • Vietnam’s Hoiana says has several partners to bring biz
    Vietnam’s Hoiana says has several...

    Mar 22, 2023  

  • Let’s Win hosts grand opening for club at Hoiana in Vietnam
    Let’s Win hosts grand opening for...

    Mar 20, 2023  

More news
  • APE narrows annual loss as revenue up 38pct
    APE narrows annual loss as revenue up...

    Mar 28, 2023  

  • Foreigners can use HK-Macau free ticket says tourism boss
    Foreigners can use HK-Macau free ticket...

    Mar 27, 2023  


Latest News

APE narrows annual loss as revenue up 38pct

APE narrows annual loss as revenue up 38pct

Mar 28, 2023  

Hong Kong-listed Asia Pioneer Entertainment Holdings Ltd (APE) reported revenue of just above HKD10.5 million (US$1.3 million) for full-year 2022, up 37.7 percent from the prior year. The firm...
Read More
Foreigners can use HK-Macau free ticket says tourism boss

Foreigners can use HK-Macau free ticket says tourism boss

Mar 27, 2023  

Raffles hotel checks complete at Galaxy Phase 3: MGTO

Raffles hotel checks complete at Galaxy Phase 3: MGTO

Mar 27, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”The data and evidence on hand all point to the same conclusion: enough is enough. It is time to ban offshore gaming operations in the Philippines, once and for all”

Sherwin Gatchalian

Chairman of the Committee on Ways and Means of the Senate of the Philippines



Most Popular

  • Melco’s Studio City has foreigner-only bet zone: checksMelco’s Studio City has foreigner-only bet zone: checks March 27, 2023
  • Raffles hotel checks complete at Galaxy Phase 3: MGTORaffles hotel checks complete at Galaxy Phase 3: MGTO March 27, 2023
  • Macau diversification into non-gaming to remain slow: FitchMacau diversification into non-gaming to remain slow: Fitch March 24, 2023
  • Philippine lawmaker wants POGOs shut within 3 monthsPhilippine lawmaker wants POGOs shut within 3 months March 27, 2023
  • Foreigners can use HK-Macau free ticket says tourism bossForeigners can use HK-Macau free ticket says tourism boss March 27, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us