Deadline looms for IPI to pay $62M

This coming Saturday is the deadline for Imperial Pacific International (CNMI) LLC to pay some $62 million in casino license fees it owes the CNMI government, but it remains mum on the subject and there is no telling if the casino investor will be able to meet the deadline of the Commonwealth Casino Commission.

IPI director/manager Howyo Chi said yesterday there’s no update yet about making any payments. He did not elaborate.

The CCC will have its monthly meeting at the Springs Plaza in Gualo Rai this Thursday. Included in the agenda is IPI’s outstanding casino license fees for the past four years—from 2020 to 2023—which is due this Saturday, Dec. 30.

CCC board vice chair Rafael S. Demapan issued the 30-day notice of payment to IP’s Chi last Nov. 30. The CCC board had determined that the reasonable deadline for IPI to pay the 2020, 2021, 2022, and 2023 casino license fees is 30 days from receipt of the notice.

The casino license fee for each year is $15,502,570, for a total of $62,010,280 for the four-year period.

Demapan stated in the 30-day notice that in determining what’s deemed a “reasonable time,” the commission considered the CNMI Supreme Court’s ruling in CCC’s lawsuit against IPI.

The CCC board will also discuss during tomorrow’s meeting r IPI’s removal/dismantling of three cranes at IPI’s casino/resort project site in western Garapan.