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Casino investors granted conditional license
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Posted on Dec 19 2005
TINIAN – The Tinian Gaming Casino Control Commission granted Bridge Investment Group last night, a conditional license to begin its 300-room hotel and casino resort project here.
In a public hearing, the four commissioners, headed by chair William M. Cing, unanimously voted to grant the licensing application of the investors led by U.S. presidential appointee to the Asian American and Pacific Islander Advisory Commission Rudy Pamintuan.
Pamintuan is joined by business partners Erick Wang and Rocky Li. Two other partners, Dr. Akshai Desai and Kenneth Wong, were not able to come to last night’s public hearing.
Pamintuan’s team presented their plan before the commissioners in a jampacked room at the Tinian Court House.
Besides Cing, the TGCCC commissioners include vice chairman Serafina King-Nabors, and commissioners Peter Cruz and Juanita Mendiola.
Based on the presentation, the investment would amount to over $100 million.
“That’s our commitment,” said Pamintuan. The hotel and casino resort would be constructed on a 55,000-square-foot hillside across the lookout point.
The business projects to add nearly $400,000 monthly revenues to the government in terms of taxes paid, which when combined with the present casino operator, Tinian Dynasty Hotel Casino, would total $800,000 a month in government income.
The industry is projected to give Tinian some $8.5 million revenue a year, or a 228-percent increase from the current level.
Overall, the tourism industry is projected to yield $92 million a year.
Based on the biodata posted at http://www.aapi.gov/advisory.htm, Pamintuan, of Chicago, Illinois, is president of Sherman Consulting, Inc., a media strategy and public policy consulting firm.
Wong, of Holland, Pennsylvania, is the president of CIG Asia, Ltd., a national property and casualty brokerage firm in Philadelphia and vice president of Combined Insurance Group, while Dr. Akshay Desai is a leading private practice physician and founder of American Family and Geriatric Care in St. Petersburg, Florida, as well as the CEO and president of Universal Health Care, a managed care organization.
