The Senate of the Commonwealth of the Northern Mariana Islands on Thursday passed a bill to repeal and re-enact a casino law for Saipan, to “clarify ambiguities” in the original statute and fully empower the local Lottery Commission to award an exclusive Saipan casino licence, reported the Saipan Tribune newspaper.
The last step now is for the U.S. Pacific territory’s Governor Eloy S. Inos to sign the corrective bill. He has already said he would do it “promptly”.
Last week Superior Court Associate Judge David A. Wiseman, sitting in Saipan, criticised the original law, describing it as “haphazard and poorly drafted”.
Imperial Pacific International Holdings Ltd – a Hong Kong-listed investor in the profit stream of Macau VIP operator Hengsheng Group – is seeking via a wholly owned subsidiary to secure the licence for a resort requiring a “minimum US$2 billion” investment according to the Saipan authorities. The subsidiary, Best Sunshine Ltd, is one of two applicants currently involved in the process.
Dec 05, 2023Work to guard against the risk of soil liquefaction and to deal with other land issues at the site of the planned MGM Osaka casino resort in Japan began on Monday, according to an announcement by...
Dec 05, 2023
"The six Macau casino operators should not be penalised for upping expenditure on player incentives, so long as their EBITDA margins are not materially diluted”
George Choi and Ryan Cheung
Analysts at Citigroup