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Boom Times may be Over At Island Casino for Chinese High Rollers

It has been 4 years when it arrived on the U.S. Territory of Saipan, Imperial Pacific International holding Ltd. Is failing in its effort to turn the obscure island into a gambling hub.

In August, this year the Hong Kong based Company, which attracted attentions of the Gaming industry for the huge volumes of bets recently recorded in Saipan operated, it has been reported that a 51% decline in the first half revenue that sent earnings tumbling by more than 90%  Imperial Pacific faced problems that also required it to delay paying some Saipan workers in the month of August. These reports came through some local media and it may be reported by Bloomberg News.

Last Month Saipan’s regulator approved of four junket operators that can work with Imperial to bring the players who play high stakes at Casinos. They also received a two year extension  to complete the hotel with 340 rooms that it had committed to build to make better gambling facility.

Federal Investigation: Saipan the main landmass of the Commonwealth of the northern Mariana Islands, is located more than 5,000 miles from the U.S. Mainland. Imperial Pacific has always said no to the assertion, countering that it compiles with all relevant regulation and also has Anti Money Laundering procedures in place. Anyways, Imperial pacific has declined to comment on this article or in this matter right now.

Saipan has few different prospects for economic development or large scale employment and losing the casino project would be a significant blow for the island’s economy.

 

About the author

Kevin Kaostricks

Kevin takes care of round the clock updates on Casino Buzz. He is based out of Rochester. He can be reached out at kk@casino.buzz

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