CCC says central govt assures funding to continue operations
With the Commonwealth Casino Commission still waiting for Imperial Pacific International (CNMI) LLC to pay the $3.15 million regulatory fee, the central government has given CCC certain assurances that it will be given funding so it could continue operating.
Acting CCC executive director Andrew Yeom assured yesterday that the nonpayment of the regulatory fee will not impede its ability to perform its fiduciary duty of regulating and overseeing the Saipan casino industry.
“Although nothing has been set in stone at the moment, the commission will continue regulating Saipan’s casino industry, all while implementing preventive measures and plans to mitigate risks and exploring possible opportunities to expand and improve the casino gaming industry on Saipan for the long-term,” he said in a statement.
Last August, Yeom said the CCC can only survive for a few months if IPI fails to pay the $3.15 million regulatory fee last Oct. 1.
Yeom said the CCC will not entertain IPI’s request to put off paying the regulatory fee to 30 days before the reopening of its casino, that the $3.15 million fee is set by law.
As for the $15,502,570 casino license fee that IPI also failed to pay by the Aug. 12 deadline, Yeom said that CCC is in no position to entertain bargains or deals with IPI as the amount is also set by law.
Last Aug. 18, Gov. Ralph DLG Torres notified IPI of the government’s intent to suspend or revoke IPI’s exclusive casino license.