TCGCC still waiting for TEC fee and documents

The Tinian Casino Gaming Control Commission is still waiting for Tinian Entertainment Co.’s submission of fee and documents that was past due since Sept. 9, 2015.

TEC is the new owner of Tinian Dynasty Hotel and Casino, which said it will close at the end of this month.

TCGCC executive director Lucia Blanco-Maratita said as of Friday, Sept. 11, TEC still has not paid the additional investigative fees nor submitted the documents that were due on Sept. 9.

“This means that the investigations may be delayed because the deadline has again come and gone without action on the applicant’s part,” Blanco-Maratita said.

At this point the application has been deemed substantially complete as of Sept. 4, 2015.

According to Tinian Mayor Joey P. San Nicolas, TEC has to deposit with TCGCC an additional $100,000 refundable investigative fund no later than Sept. 9.

TEC and its parent company, Chinese Strategic Holdings Ltd., submitted its application for a casino license last Sept. 3, but the documents were actually due on Aug. 24, 2015. Documents required to be submitted by Sept. 4 are still pending as of Sept. 7.

“While the commission understands the concerns of the Tinian leadership about the closure of the Dynasty, the commission is also very cognizant of its responsibility of ensuring that only suitable persons are given a casino license,” Blanco-Maratita said.

She said this means that until the suitability investigations are conducted and unless applicants are found suitable, no casino license can be issued.

“The commission stands firm that it will do what it can to expeditiously process Chinese Strategic Holdings Ltd./TEC’s casino license application but will not compromise the strict regulatory process that must be adhered to,” she said.

At this point, Blanco-Maratita said, if the applicants complies and pays the investigative fees by the deadline of Sept. 9, investigators will be able to conduct their interviews of the applicants and review all necessary records of the entities in Hong Kong this month.

Once TCGCC receives the investigators’ preliminary report, and if the applicants are found suitable by TCGCC based on that preliminary report, Chinese Strategic and TEC will be given an interim casino authorization while suitability is being completed, Blanco-Maratita said.

She noted that if at the end of all the suitability review—including a review of company’s business plan, financial ability, ability to successfully operate a casino with integrity, among others—TCGCC finds that all parties are “suitable” under the requirements of the Gaming Act, then they will be granted a casino license.

In related news, TCGCC held its monthly meeting last Wednesday. Blanco-Maratita said that TCGCC granted a waiver on the three non-executive board of directors of Chinese Strategic with conditions.

“TEC requested a waiver under TCGCC regulations where certain board of directors may be waived from the requirement of being qualified (being required to apply and be found suitable) if they are not going to be significantly involved in the activities of the applicant. This means they do not have to apply for suitability,” she said.