Imperial Pacific Gets Three Year Extension for Initial Gaming Facility

Imperial Pacific International has been given an extension for completion of its initial gaming facility in Saipan to no later than February 28, 2021, according to a filing from the operator.

Imperial Pacific said the extension request, made to the Commonwealth Lottery Commission, was made because of the “drastic reduction and non-availability of sufficient skilled and qualified construction labors locally in Saipan and mainland USA.”

In return for the extension, Imperial Pacific has agreed to submit a Construction Milestone Schedule, a list of pending tasks and projected completion dates, as well as quarterly reports on detailed progress.

The company has also promised to give a US$500,000 donation to the Commonwealth Healthcare Corporation in consideration for the revised Implementation Schedule.

Furthermore, should Imperial Pacific miss the 2021 deadline, the company will be required to pay liquidated damages of US$5,000 per day for each day the project is past the deadline. (AGB)