DOF: IPI’s 15 days to pay fee ending today

The 15 days that the Department of Finance gave Imperial Pacific International (CNMI) LLC to pay the balance of its $15-million casino license fee renewal is drawing to a close.

IPI’s deadline to pay its renewal fee was last Aug. 12, 2019. So far, it has already paid $5 million. Based on the 15-day deadline that Finance gave IPI, that means the 15 days will end today, Aug. 27, 2019.

Saipan Tribune confirmed late last night that Finance Secretary David Atalig has not received any payment yet to satisfy IPI’s remaining obligation.

In an interview with Atalig last week, he told Saipan Tribune his office gave the lone casino licensee 14 to 15 days to pay the remainder of its $15-million annual casino license fee renewal, with the countdown starting last Aug. 12, 2019, IPI’s statutory deadline.

“My communication is that within 14-15 days, the remaining $10 million will be wired to us, so I am expecting that [this week],” he said.

Atalig also noted that the Commonwealth Casino Commission gave IPI a letter of default, asking it to resolve the issue within 15 days. He did not specify when the letter was sent.

“…I don’t know which timeframe they would use but, from my point of view, they have that 15 days after Aug. 12, 2019, to pay or they are in default,” Atalig said.

He confirmed in a previous statement that the lone casino licensee wired only $5 million of its $15 million annual casino license renewal fee.

In an earlier interview, Gov. Ralph DLG Torres said his office and the Office of the Attorney General are already discussing what actions to take because of the delay in payment.

“Wherever you go, there are procedures that need to be followed and this is [an example of a procedure]; they [IPI] are delinquent in their payment, and so there are going to be procedures that needs to be done in order for us to…give them due process,” he said.

IPI’s deadline to pay their annual casino license renewal fee was Aug. 12, 2019.

According to the Casino License Agreement, which the CCC enforces, delayed, partial, or the non-payment of “…any amount due and payable” within the casino license agreement constitutes a breach in the CLA.

A breach in the CLA can result in the suspension or even revocation of the casino license.