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Saipan casino petition to be launched tomorrow
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Posted on Mar 26 2012
Saipan voters could start signing off on a local initiative to legalize casino gaming on Saipan on Wednesday afternoon. If it garners at least 2,500 to 2,700 signatures, the question could be included in the Nov. 6 ballot.
The 22-page local initiative, which took weeks of drafting and redrafting, requires a $5 million initial license fee to be paid within 90 days after the license approval and $200,000 in annual license fee every year thereafter.
Three casino licenses are available: two for an existing hotel with at least 250 guest rooms, golf club resort or resort, and one for a new investment of at least $100 million inclusive of a hotel resort or convention center.
One other casino license is also available to a Northern Marianas descent corporation.
Dr. Jack Angello, a retiree and one of the individuals leading the signature drive, said yesterday that the public launching will be at the Carolinian Utt in Garapan on Wednesday at 4:30pm.
“We want this to be transparent. As a retiree, I am concerned about the welfare of the NMI Retirement Fund and the welfare of those who are on 64-hour work biweekly. I want them to be restored to 80 hours. And this casino initiative will help us realize this,” Angello told Saipan Tribune.
Under the initiative, all funds generated will be available for appropriation only on Saipan and the Northern Islands.
The initial license fee of $5 million will be used to restore 80 work hours biweekly for government employees living on Saipan. Of the remaining funds, 50 percent will go to the NMI Retirement Fund; 20 percent will fund the medical referral program for Saipan residents; 20 percent to the Saipan Higher Education Financial Assistance Board; and other programs and purposes as determined by the Saipan and Northern Islands Legislative Delegation.
Angello said those who want to know more about the casino initiative and want to sign off on it are invited to attend the public launch on Wednesday.
Rep. Froilan Tenorio (Cov-Saipan) is working on a separate casino initiative.
