Hong Kong-listed Imperial Pacific International Holdings Ltd confirmed on Monday that it will begin casino operations at its Imperial Pacific Resort (pictured) on July 6. The company currently operates a temporary casino facility – known as Best Sunshine Live – on the Pacific island of Saipan.
The casino at the Imperial Pacific Resort “features over 70 gaming tables and over 190 gaming machines,” Imperial Pacific said in a press release. Other parts of the casino resort, including the hotel, are still under construction.
Imperial Pacific has the right to an exclusive casino licence on Saipan, the main island of the Commonwealth of the Northern Mariana Islands, a United States jurisdiction. The firm is currently catering particularly to credit-based VIP play at the Best Sunshine Live.
Despite starting casino operations on July 6, the Imperial Pacific Resort will not be offering accommodation at this stage. The developer said in Monday’s release that, once complete, the hotel will offer 329 hotel suites and 15 villas. Imperial Pacific did not disclose when the hotel would open.
Imperial Pacific said last week that it completed on June 27 the issuing of convertible bonds in the principal amount of HKD50 million (US$6.4 million). The company said that it expected to net approximately HKD46 million from the exercise.
The proceeds will be used to settle payments to contractors building the Imperial Pacific Resort and for staff salaries, the firm said.
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"The idea that VIP [in Macau] would revert to its previous levels, I think that it’s clearly foregone, it’s not going to happen. But I anticipate that … the premium-mass and mass will be stronger than it has ever been”
Chief executive of Wynn Resorts