Inos hopes resolution of Dynasty woes

Gov. Eloy S. Inos said yesterday he looks forward to the resolution of issues surrounding Tinian Dynasty Hotel & Casino’s ownership application, and hopes that Mega Stars Overseas Ltd. will comply with the Tinian Casino Gaming Control Commission’s requirements as set by law and regulations.

He hopes that either the application issues will be resolved or “maybe they will have to figure out another organizational structure.”

Mega Stars Overseas Ltd. is part-owner of Marianas Stars Entertainment Inc., which is one of the two investor groups applying for a license to exclusively develop a minimum $2-billion integrated casino resort on Saipan.

The Dynasty ownership application process, according to Inos, should not be a factor in the Saipan casino license application.

“They stand on their own. I think the management decision to continue to pursue the Tinian [Dynasty] plan with this window of opportunity [on] Saipan could be detrimental to the Tinian plan. It’s just my own personal opinion. If it’s just plan rejection, I can’t believe that. If there’s deficiency in the application, then I think it makes good sense to ask them to come in and fulfill the requirements,” Inos said in an interview at yesterday’s Memorial Day ceremony in Marpi.

By a 4-0 vote, the Tinian casino commission “returned” Mega Stars’ application for a license to own and operate Tinian Dynasty, citing the investor’s failure to execute the proper forms.

Inos said he wasn’t aware of the Tinian commission’s decision until the media brought it up.

The commission’s executive director, Lucia L. Blanco-Maratita, said the commission returned the application “to ensure compliance with the Act and regulations, protect the interest of the people of Tinian, and to abide by the duties and responsibilities mandated by the Act.”

Mega Stars chief executive officer Cario Hon said they are “dismayed and quite surprised” but nevertheless vowed to work with the commission. They have five business days to resubmit their application to the commission.

He said Mega Stars has already spent more than $40 million so far “to save the Dynasty from going under.”

The Tinian casino commission also directed its executive director to look into whether the current licensee—Hong Kong Entertainment Overseas Ltd.—should have its casino license “suspended or revoked for failure to comply with the Act and regulations in connection with a transfer of any interest in the casino without the approval and consent of the commission.”