GGRAsia – Imp Pacific targets 2018 completion of hotel rooms, villas

Imp Pacific targets 2018 completion of hotel rooms, villas

Jul 21, 2017 Newsdesk Latest News, Top of the deck, World

Hong Kong-listed Imperial Pacific International Holdings Ltd confirmed to GGRAsia on Friday that it aims to complete next year the construction of the first guest accommodation at its Imperial Pacific Resort (pictured) – namely villas and hotel suites.

The company began on July 6 casino operations at the casino resort on the Pacific island of Saipan. Previously it had been running an interim facility called Best Sunshine Live.

The new resort’s promoter had said in a July 6 release that, once finished, the hotel would offer 329 hotel suites and 15 villas.

“The target completion time for our northern Chinese restaurant, Chairman M, will be in August this year,” the company wrote in an emailed reply to our Friday enquiry.

“We also target to complete the construction of our villas at the end of January, 2018 and the construction of the hotel suites in August, 2018,” the company noted.

But Imperial Pacific International did not state in its reply when the hotel would open for guests. The company also did not address a question regarding a local media report that there would be a “second-floor gaming room” at the new casino.

The Saipan Tribune reported on Friday that the casino resort developer hoped to finish what the news outlet termed “a second-floor gaming room” of the new property “before completion” of a restaurant called “Chairman M”.

At the time the permanent casino launched, Imperial Pacific said that the facility featured “over 70 gaming tables and over 190 gaming machines”.

Imperial Pacific said in a previous announcement 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 net proceeds of approximately HKD46 million from the exercise.

They were to be used to settle payments to contractors building the Imperial Pacific Resort and for staff salaries, the company said.