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Saipan casino application process moves forward
Governor hopeful no further litigation will be needed
After litigation hiccups and other issues, the application process for an exclusive integrated casino resort license on Saipan moves forward and Gov. Eloy S. Inos said he’s “hopeful that no further litigation will be needed.” Marianas Stars Entertainment Inc. and Best Sunshine International Ltd. are both in the running for the exclusive license.
Superior Court Associate Judge Wiseman issued an order last week denying an attempt to stop the government from issuing a casino license.
“With Judge Wiseman’s ruling, we are pleased that the process will once again be moving forward. This, along with legislation to address ambiguities in the law, will pave the way to revenues we need for all of us in the Commonwealth,” Inos said.
House floor leader Ralph Demapan’s (Cov-Saipan) bill repealing and reenacting the Saipan casino law will be up for full House voting tomorrow afternoon, but there is no telling whether it will have the votes.
The governor reiterated yesterday a statement he made during his State of the Commonwealth Address.
“As I’ve said, we cannot sue our way to prosperity, so we are hopeful that no further litigation will be needed. This $2 billion opportunity will benefit all of us—retirees, active government employees, the private sector, and all who reside here,” he said.
The two-year advance casino license fee of $30 million is meant to pay retirees’ deferred 25 percent pension and pay the interest on retirement contributions withdrawn by former Retirement Fund members last year.
The four-member Lottery Commission, chaired by Commerce Secretary Sixto Igisomar, will meet again on Tuesday afternoon on Capital Hill.
But Finance Secretary Larrisa Larson told Saipan Tribune yesterday that the commission won’t be making any announcement yet tomorrow whether to grant an exclusive casino license and to whom as lawyers are still reviewing Wiseman’s ruling and will advise the next step.
The commission, in its executive session, will discuss pending litigation. During its public session, it will also discuss video lottery, which is allowed by law since last year but has since been put in the back burner when electronic gaming and Saipan casino also became law. The three major revenue-generating measures seek to help restore retirees’ 25 percent deferred pension and other retirement fund-related obligations, among other things.
Meanwhile, GGRAsia reported during the weekend that Imperial Pacific International Holdings Ltd.—the parent company of Saipan casino applicant Best Sunshine—saw a 14.52-percent rise in shares in Hong Kong on Friday after a legal bid to block it or anyone else from applying for a casino license on Saipan was rejected by a judge. Imperial Pacific is an investor in the profit stream of Macau VIP operator Hengsheng Group.
