IPI reports over $5.5B in chip volume

Posted on Feb 17 2017

Commonwealth Casino Commission executive director Edward Deleon Guerrero reported to members of the board in yesterday’s meeting that Imperial Pacific International, Ltd. had recorded $5.59 billion in rolling chip volume for the month of January.

“This is the combination of all tables and other gaming in the casino. We [commission] have been monitoring all movements of cash in the casino. We are also looking at every detail and are making sure IPI’s pays its vendors and others that offered them goods and services,” said Deleon Guerrero.

IPI is currently operating a temporary casino facility, Best Sunshine Live, at the T Galleria shopping mall. Imperial Pacific Resort Hotel, its flagship integrated resort in the CNMI, is currently being built; its casino operations is set to open sometime in March this year.

House of Representatives Gaming committee members, headed by Rep. Joseph P. Deleon Guerrero (R-Saipan), and IPI officials were also present in the meeting held at the Joeten-Kiyu Public Library’s video teleconference room.

The rolling chip volume is the casino’s measurement of the total of all non-negotiable chips that were bet on and lost by VIP and other players. It is also the amount of activity of non-negotiable chips being transacted and played according to its value on the floor. (Jon Perez)

IPI, according to GGR Asia’s website, in its filing at the Hong Kong Stocks Exchange yesterday showed its rolling chip volume jump by 147 percent year-on-year numbers. In 2016, they earned a rolling chip volume of $2.26 billion, which more than doubled last month at $5.59 billion.

Venetian Macao, Sands China’s flagship casino in Macau, posted $6.89 billion in rolling chip volume the whole fourth quarter of 2016 while Wynn Macau Ltd. recorded $10.80 billion from October to December last year. IPI also reported a rolling chip volume total of $32.37 billion.

IPI’s actual revenues collected last month is more than $326 million while paying over $23 million in the purchase of goods and other services in other businesses on island. The CNMI government also raked in a gross gaming revenue tax of more than $16 million.

Best Sunshine Live has been operating seven VIP tables at its temporary casino facility along with six premium tables, 32 mass gaming tables, and 106 slot machines. It opened in July 2016.

Jon Perez | Reporter

Jon Perez began his writing career as a sports reporter in the Philippines where he has covered local and international events. He became a news writer when he joined media network ABS-CBN. He joined the weekly DAWN, University of the East’s student newspaper, while in college.

Cope North Exercise on Tinian

Team Bodig to hold coin drive

Disclaimer: Comments are moderated. They will not appear immediately or even on the same day. Comments should be related to the topic. Off-topic comments would be deleted. Profanities are not allowed. Comments that are potentially libelous, inflammatory, or slanderous would be deleted.