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Tinian casino regulator charges special fee to make up for funding shortfalls
The Tinian casino gaming regulator has charged its license holders a special fee to make up for funding shortfalls but, as of last Thursday, only Bridge Investment Group has paid the fee, according to a statement from the Tinian Casino Gaming Control Commission last week.
Bridge Investment Group is planning to build a casino resort on the island.
The Tinian Dynasty Hotel & Casino and its revenue flow to the island government and regulators have reportedly halted since it shut down operations in September.
BIG paid out $102,022.56 for the special fee that the commission is allowed to assess “whenever a funding shortfall is projected,” according to the commission. The deficit is shared equally among all current casino license holders and applicants, meaning each of these holder and applicants were assessed the same amount.
In the statement, the Tinian casino commission says it issued the fee on 0ct. 28. Payments of fees were due by Nov. 18.
“As of Nov. 19, Bridge Investment Group has been the only licensee or applicant to have complied with the fee assessment, even though all licensee and applicants are required to comply with the Act and regulations, including payment of the special fee assessment,” executive director Lucy Blanco-Maratita said.
“Non-payment of fees and deposits required may affect such licenses and pending applications,” she added.
In the commission’s statement, Phillip Mendiola-Long of BIG states that they intend to stay in compliance with the requirements of the commission and gaming law.
“[BIG views regulations and law] not just solely as a requirement of a licensee but also a continuation of their promise to the community. It is this commitment to Tinian that the company has hired a 90-percent local workforce, including construction jobs, and has built new assets for the community. Our actions speak of our intention to ‘walk the talk’ and remain a true member of this community,” Mendiola-Long said.
