Imperial Pacific International may be facing a fine of US$375,000 for late payment of its casino license renewal fee, according to local media reports.
Casino Control Commission Executive Director Edward Deleon Guerrero was cited as saying in the Saipan Tribune that the regulator will impose a fine of US$25,000 for each day’s delay in the US$15 million renewal fee. The company was fifteen days late with its payment.
Imperial Pacific has the monopoly license to run a casino on Saipan in the Commonwealth of Mariana Islands, though completion of its resort has faced multiple setbacks and delays.
Guerrero said that the fine still needs agreement of the full commission.
“I need to bring it to the commission in the September monthly meeting. We need their blessings for the stipulating order,” he said. “The commission needs to review and approve the stipulation but… [the commissioners] have accepted the stipulation and they understand that this is a violation,” he said. (AGB)