No limit will be imposed as to how many junket operators will be allowed to do business on Saipan once the Grand Mariana Casino & Hotel Resort opens next year. Hong Kong-based Imperial Pacific International (CNMI) LLC was granted the license to operate the lone casino on the island with the first phase of its multi-billion dollar project expected to open in early 2017.<\/p>\n
Commonwealth Casino Commission executive director Edward Deleon Guerrero said junket operators have been \u201ca necessary part of the gaming industry\u201d that\u2019s why they decided not to impose any limit.<\/p>\n
\u201cNo number [limit] for the junket operators. The live training facility that currently operates only has five VIP rooms, but when the Grand Mariana opens, it will have a bigger number of VIP rooms to accommodate those who come here to play,\u201d Deleon Guerrero said.<\/p>\n
\u201cThe junket operators are a necessary part of the gaming industry and we are competing in a regional area and you have the likes of Macau and Singapore. Right now Saipan is the fifth most favorite destination by Chinese tourists and we are also fifth in the casino gaming world behind Macau, Las Vegas, Singapore, and the Philippines. Now we are on the world map,\u201d he added.<\/p>\n
Deleon Guerrero said the junket operators would have different arrangements with Imperial Pacific, Best Sunshine\u2019s parent company, \u201cSome are small players while some would represent VIPs, these are people who would bet large amounts of money.\u201d<\/p>\n
Deleon Guerrero added that they had already awarded Big Bang Entertainment of Korea\u2014whose clients are mostly from Korea and Japan\u2014a provisional junket operator license and they, along with Imperial Pacific, are screening about 17 more applicants.<\/p>\n
\u201cAll the applicants are still under review. We have implemented additional review process, where are working with the casino operator to have them vet the junket operators too, beginning from the financial perspective. Currently IPI goes through a vetting process before they issue a credit to their VIPs,\u201d he said.<\/p>\n
Junket operator applicants would go through a strict process that includes credit check, world wealth check, and litigation check. \u201cIt is a process that is something we wanted the junket operators to go through.\u201d<\/p>\n
\u201cOnce IPI approves the issuance of the credit process, then they will issue a letter of intent to transact with this company as a junket operator. They would then submit that to the CCC, including their findings along with the letter of intent that they would do business with that operator,\u201d Deleon Guerrero said.<\/p>\n
\u201cAt that CCC would continue to screen the criminal and association background checks from the time the application was submitted and the fees are paid. Once we get the letter of intent and IPI\u2019s findings, we then assess whether or not the applicant requires further vetting and we will assess a minimum amount for investigation purposes. So, if IPI refuses to issue the letter of intent, then that application stops. We do not entertain it anymore,\u201d he added.<\/p>\n","protected":false},"excerpt":{"rendered":"
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