The Tinian Casino Gaming Control Commission said the company tasked to review Mega Stars Overseas Ltd.’s license application to take over and operate Tinian Dynasty Hotel and Casino will have 120 days to complete the investigation.
TCGCC executive director Lucia Blanco-Maratita said that Mega Stars submitted the casino license application and required forms last Monday, which was within the five days they were required to do so.
The next step in the casino license application process is for the TCGCC and Gaming Integrated Services to review Mega Stars’ application.
Blanco-Maratita said entire review process could take up to four months.
“The way it works is the firm has 120 days to complete the investigation. But the start of the 120 days does not begin until all forms and additional documents needed are submitted. We’re not on that stage and the 120 days has not started yet.”
TCGCC contracted Gaming Integrated Services specifically to review the Hong Kong-based company’s application for a casino license related to its take over of Tinian Dynasty.
Mega Stars chief executive officer Cario Hon confirmed that their company submitted the additional documents the TCGCC asked for.
He said it’s now up to the island of Tinian—the TCGCC, the Tinian Mayor’s Office, and the people of Tinian—whether their planned investment in Tinian Dynasty pushes through.
“Everything depends on the people of Tinian or those who work for the TGCC or the mayor’s office. If they want they can make it [application] fast or not, it’s their choice…If they think we’re good for the island, they shouldn’t give investors a long time to wait. We can’t control [the situation]; we’re not the government.”
Hon also expressed his frustrations that TCGCC appears to be making Mega Stars go through hoops before making official the sale of Tinian Dynasty to the company.
“Since coming here we’ve followed all the instructions, we followed the law, paid up the money, and did everything. We didn’t apply for a license. We just bought the shares of the company. We didn’t apply for a [casino] license on Tinian. Everyone’s working there as before. The managers are there and the dealers are there. Everything’s the same. The only difference is we paid up the money. [But] if they want Michael Kwan to run it, let Michael Kwan run it. They decide.”
Kwan is the chairman of Hong Kong Entertainment Overseas Ltd., the current owner of Tinian Dynasty.
Last May 23, TCGCC returned Mega Stars’ application by a 4-0 vote, citing the investor’s failure to execute the proper forms necessary as part of the application process.
Mega Stars has already spent more than $40 million so far to keep the struggling casino resort afloat. It is also planning to plunk down an additional $600 million to develop a new resort on Tinian’s Kastiyu Plateau.
Mega Stars is also part owner of Marianas Stars Entertainment Inc., one of the two applicants vying for an exclusive license to operate an integrated casino resort on Saipan.