Imperial Pacific International has had its license to operate the Imperial Palace in Saipan suspended indefinitely. The Commonwealth Casino Commission (CCC) of the Northern Mariana Islands suspended it.
The operator violated five orders of the Casino Control Act. It has to pay $6.6m in total penalty within six months and pay immediately $15.5m. Also, it has to pay $3.1m in annual casino exclusive license fee and annual casino regulatory fee, respectively.
The operator was unable to pay its US$3.1m annual regulatory fee in 2020 due to the pandemic. It also failed to comply with an order to pay money owed to vendors. It also failed to meet minimum capital requirements, chose not to pay the cost of its annual US$15.5 million casino license in 2020. And it was twice unable to pay US$20 million owed to the community benefit fund in 2018 and 2019.
Due to COVID-19, the casino and hotel are not operational since March, with the operator reporting a US$367 million loss for FY2020.
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