Casino ‘white paper’ in the works

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The administration of Gov. Ralph DLG Torres is currently working on what his administration calls a “white paper” that seeks to briefly but thoroughly explain several aspects of the lone casino in the CNMI.

According to an administration statement, the document is meant to “provide as much clarity as possible to policymakers to provide them the necessary information about the CNMI’s gaming market.”

The matter was discussed briefly during Thursday’s Commonwealth Casino Commission meeting, with Torres’ chief of staff Matt Deleon Guerrero attending.

“We’ve been informed by the Office of the Governor that the CNMI government is putting together a white paper, apparently intended to be produced to the…U.S. Senate,” said the commission’s executive director, Edward Deleon Guerrero.

According to the administration statement, the “white paper” would focus heavily on the “Macau model of gaming” and how it differentiates from the standard U.S. model of gaming.

The document would also address topics such as how the “Macau model” has been adjusted to conform to U.S. gaming and money laundering regulations as well as local regulatory concerns.

“[The government is] looking into regulatory capabilities and we have assured them that we have a robust regime in place to regulate [the industry],” said Edward Deleon Guerrero.

“[The white paper intends to answer] how the regulatory protections set by the CNMI limits the opportunities for money laundering in accordance with the Anti-Money Laundering Act, the Bank Secrecy Act, and other financial crime protections of the United States,” the administration statement adds.

The “white paper” will highlight the significance of the casino industry for the “economic growth of the CNMI” as well as the significance of junket operators for a casino industry in a remote area such as the CNMI.

Edward Deleon Guerrero cited the location of the CNMI as well as the fact that there is only one casino here to emphasize the significant role of junket operators—agents who finance high rollers—“to the sustainability of this gaming industry.”

“We as regulators are contributing toward putting together what is our understanding of operations, how they are dealt with, and [how we] are trying to regulate it.”

Erwin Encinares | Reporter
Erwin Charles Tan Encinares holds a bachelor’s degree from the Chiang Kai Shek College and has covered a wide spectrum of assignments for the Saipan Tribune. Encinares is the paper’s political reporter.

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