• 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

Imperial Pacific using bond proceeds to pay contractors

Jun 28, 2017 Newsdesk Latest News, Top of the deck, World  


Imperial Pacific using bond proceeds to pay contractors

The developer of a casino project on the Pacific island of Saipan says it completed on Tuesday the issuing of convertible bonds in the principal amount of HKD50 million (US$6.4 million).

Imperial Pacific International Holdings Ltd confirmed in a filing to the Hong Kong Stock Exchange that it expected to net approximately HKD46 million from the exercise.

A June 16 filing from the firm said the proceeds would be for “phase one of the Saipan project and the general working capital of the group”.

The company additionally said in a filing on June 20 that it would use HKD39 million of the proceeds to settle payments to contractors building the Imperial Pacific Resort (pictured) and HKD7 million for staff salaries.

That June 16 document had also mentioned the bonds would offer 4 percent interest per year, payable semi-annually on June 30 and December 31. The maturity date of the convertible bonds would be the second anniversary of the date of issue.

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 operating a temporary casino facility known as Best Sunshine Live, and catering particularly to credit-based VIP play.

Late last month Imperial Pacific told GGRAsia that it hoped to get a permit “soon” from the local regulator in order to open the Imperial Pacific Resort.

The permanent venue will feature 350 hotel rooms, 15 villas, “200 to 300 gaming tables” and “300 to 400 slot machines”, according to the company’s previous filings.


  • tweet
Related articles
  • Court rejects Imperial Pacific appeal on licence suspension
    Court rejects Imperial Pacific appeal...

    Mar 17, 2022  

  • Imp Pacific told to sell gaming machines to settle debt
    Imp Pacific told to sell gaming...

    Jul 12, 2021  

More news
  • Macau bill still lets junkets process patron cash, chips
    Macau bill still lets junkets process...

    Aug 15, 2022  

  • Success Universe 1H loss to double, Ponte 16 ops improving
    Success Universe 1H loss to double,...

    Aug 15, 2022  


Latest News

Macau bill still lets junkets process patron cash, chips

Macau bill still lets junkets process patron cash, chips

Aug 15, 2022  

Macau plans to allow in future junket operators and their collaborators to deposit cash or gaming chips on behalf of their patrons, provided such processing is only via customer accounts established...
Read More
Success Universe 1H loss to double, Ponte 16 ops improving

Success Universe 1H loss to double, Ponte 16 ops improving

Aug 15, 2022  

Casino op NagaCorp repurchases fraction 2024 senior notes

Casino op NagaCorp repurchases fraction 2024 senior notes

Aug 15, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


US$9.3 million

Second-quarter gaming sales at Jeju Dream Tower casino resort in South Korea



Most Popular

  • Wenzhou court hears bet crime cases said tied to Alvin ChauWenzhou court hears bet crime cases said tied to Alvin Chau August 12, 2022
  • No-interest play deposits ok for casinos says Macau billNo-interest play deposits ok for casinos says Macau bill August 12, 2022
  • GEN Singapore 1H profit down, sales costs rise 34pctGEN Singapore 1H profit down, sales costs rise 34pct August 12, 2022
  • No criminal action on claims Okada falsified TRLEI docsNo criminal action on claims Okada falsified TRLEI docs August 12, 2022
  • Number of workers in Macau gaming down 4pct q-o-q in 2QNumber of workers in Macau gaming down 4pct q-o-q in 2Q August 12, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us