Chi says IPI needs $150M to finish casino/resort building

Imperial Pacific International (CNMI) LLC director/general manager Howyo Chi said last week that it will cost IPI $150 million to finish IPI’s casino/resort building in Garapan.

As to Commonwealth Casino Commission board chair Edward C. DeLeon Guerrero’s question during the CCC board monthly meeting where would IPI get manpower to finish construction, Chi said he does not know at this point.

Chi, however, disclosed that there are some Korean and Japanese construction companies that have reached out to IPI to complete the construction.

As for DeLeon Guerrero’s question whether IPI is still banned from hiring foreign workers, Chi said as far as he knows it’s a four- or five-year ban starting from 2020.

He said, however, as soon as they can settle with the U.S. Department of Labor and if they put in certain deposits, they expect to be allowed to get foreign workers to finish the construction.

The U.S. Department of Labor barred IPI from hiring H2-B and Commonwealth-Only Transitional Workers (CW) for five years.

Chi said they anticipate to hire a chief executive officer “certainly before we go live.”

He said with their filing of Chapter 11 bankruptcy petition, it is his understanding that the receivership has been automatically stopped.

Chi said IPI’s iconic dragon is still there in the casino/resort facility.