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Another casino MOA signed
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Posted on May 06 2006
The Fitial administration signed Friday a memorandum of agreement with a Los Angeles-based casino investor for a casino operation on Tinian.
Gov. Benigno R. Fitial said during Friday’s news briefing that the agreement was signed between the Department of Public Lands and Hollywood Park Casino.
The casino, owed by Hong Kong-born Leo Chu, is located in the famous Hollywood Park Racetrack. It is said to be the first casino in the United States located in a racetrack.
Hollywood Park Casino representative Charlie Dizon earlier said that Chu is very interested in bringing his operations to Tinian. Dizon led a fact-finding team to Tinian this week.
He said Chu’s company would soon set up a local office and comply with all requirements in securing a casino license on Tinian. His team had met with the Tinian Casino and Gaming Commission.
The MOA was the third to be signed by the Fitial administration. It earlier signed a memorandum of agreement with Baltimore-based Cordish Company for a $200-million casino and golf course project on Tinian.
Before that, the administration signed an agreement with Marianas Resort Development Co. Inc., which plans to build a $170-million casino and golf course project on Tinian.
Under the casino law, Tinian can issue up to five casino licenses.
Right now, only one operator has the license, Tinian Dynasty Hotel & Casino, which began operations in 1998.
Two conditional licenses have been issued to two companies: Bridge Investment Group for a $150 million to $200 million hotel casino, and Tinian Marine Resort.
The commission has not given any details about Tinian Marine Resort.
