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What is the true intent of BSI?
I’m writing to question the true intent of the “biggest investor” of the CNMI, Best Sunshine. As everyone knows, Best Sunshine promised as part the casino license agreement that it will complete two phases of investment: Phase I, a hotel and casino in Garapan, followed by a much larger phase II, with over 2,000 hotel rooms. At the groundbreaking of Phase II and every year thereafter, a $20 million community chest fund will be released.
In recent months, the market value of Best Sunshine’s parent company, Imperial Pacific, has dropped as much as 60 percent as the result of Typhoon Soudelor and the financial market downturn. In addition, after a year of receiving the casino license, the company hasn’t produced any meaningful plan for Phase II.
The situation raises the question: Does Best Sunshine have the financial strength and the intention to complete the investment it promised in the casino license agreement? Will the CNMI ever receive the yearly $20 million community fund? Will this be another empty promise the CNMI has seen before?
Oliver Liu
Beijing, China
