‘Fully developed casino industry could rake in $500M a year’

Even with a threat of lawsuit, the House of Representatives’ most vocal casino proponent vows to champion the revenue-generating measure and even promised that a fully developed casino industry on Saipan could bring in as much as $500 million annually to the Commonwealth.

“Fully developed easily $500 million a year in revenues,” said Rep. Froilan Tenorio (Cov-Saipan) in an interview with Saipan Tribune.

He said the CNMI can no longer depend on what worked in the past when “sun and sand to go swimming” was all it took to entice tourists to the islands.

‘There’s nothing more attractive than casinos. Right now, we don’t have to build more new hotels if we just depend on the regular tourists—tourists that come here just to relax and go swimming. We don’t need new facilities anymore. [But] once we have casinos the casinos will attract all the new investments, first-class investments,” said Tenorio.

The first-term congressman said a fully developed casino industry would lure high-rollers to Saipan and invigorate the battered economy. “Once we have casinos, the high-rollers will come over here with $30,000, $40,000, and $50,000 in their pockets.”

Tenorio said casino investors will not only bring gambling to Saipan but family entertainment as well.

He made an example of Las Vegas and said that Saipan can have multiple Sandcastles only if gambling is allowed on the island, referring to the magic and vaudeville show at the Hyatt Regency Saipan.

It is also his hope that once casino operations are approved, the son of Macau casino magnate Stanley Ho will visit and explore opportunities on Saipan.

House Speaker Eli D. Cabrera (R-Saipan) said the CNMI should put in mind that U.S. investors’ licenses in Macau will expire in 10 years and geographically the Commonwealth could be an ideal place to relocate their businesses.

“Guess where they want to go? They know their players, they know their high-rollers. [We] are hoping they can relocate here,” he said.

Rep. Stanley M. Torres’ (Ind-Saipan) House Local Bill 17-44, which seek to legalize casino operations on Saipan, is pending at the Saipan and Northern Islands Legislative Delegation. Its chairman, Ramon Tebuteb (R-Saipan) said he will convene the delegation once amendments to Torres’ bill are finalized.

Senate President Paul A. Manglona (R-Saipan), meanwhile, said that rumors of the upper chamber willing to compromise with the Saipan delegation on the casino bill are false.

“I never had a meeting with Froilan Tenorio. I don’t know about the Senate compromising with the House on the Saipan casino bill because I haven’t met with any House members. If they ever push for this we will follow through with our promise to file a lawsuit. We will get a lawyer to challenge that local bill in the courts,” he said.

Cabrera said it is the Senate’s prerogative to file a lawsuit against the delegation, adding that he will not go against what Saipan lawmakers want if the local casino bill has the votes.

“If SNILD has the votes, what can we do, what can I say,” he said, but added that the CNMI’s revenue is down to $102 million and that’s optimistic. “I hope we can collect that much. The way it is now, it’s just almost impossible to find new money.”

Acting Gov. Eloy S. Inos said he wants to see amendments to Torres’ bill before he can comment on the casino bill.

“At this point is still under deliberation. I’m waiting to see what kind of recommendation they will come up with. At least I want to see a draft of the recommendations and whatever amendments that they plan to do on the bill.”