SAN JOSE, Tinian\u2014Nine investors from Hong Kong visited Tinian last Friday to scope out possible investment opportunities and to discuss the possibility of re-opening the Tinian Dynasty Hotel & Casino. <\/p>\n
Tinian Dynasty shut its doors due to federal fines worth millions of dollars and is now a possible investment venture for Tinian Entertainment Corp. owner Tim Chen. <\/p>\n
Last Friday, Chen chartered the first international flight from Hong Kong to Tinian and took with him eight other investors from the former crown colony. <\/p>\n
According to Chen, his company was one of the creditors that backed the former management of the Tinian Dynasty before it was shut down in 2015. <\/p>\n
Chen said that it was the Tinian Dynasty is what brought him to the island in the first place. <\/p>\n
\u201cI\u2019m the creditor of the Dynasty and that\u2019s the reason I first came here,\u201d he said. He then came to like the island so much that it motivated him to convince eight other investors to visit Tinian with him and discuss investing in the Tinian Dynasty. <\/p>\n
\u201cI have been thinking a lot about investing here so I tried to convince them to put some investment on this island because it is so beautiful. We will have a meeting with [Tinian Mayor Joey Patrick San Nicolas] on how we can do it,\u201d he said. <\/p>\n
Chen is unsure of when the doors of the Tinian Dynasty could be reopened but he hopes, through his investments and his companion\u2019s investments, it will open soon. \u201cI don\u2019t know. I hope as soon as possible,\u201d he said. <\/p>\n
He is unwilling, however, to be saddled with $7 million worth of federal fines that\u2019s attached to the property. \u201cI hired some lawyers in Washington, D.C. and I am talking with them right now. I hope we can solve the problem soon,\u201d he said. <\/p>\n
According to San Nicolas, hotel rooms are now a must-have on the island of Tinian as a result of the newly established international terminal. <\/p>\n
\u201cThe next step is to make sure we do have rooms but when we had 435 rooms available, the first thing that any investor would ask is \u2018what about your flights coming in, do you have a port that accepts international flights? so this takes care of that,\u201d he said.<\/p>\n
San Nicolas is looking forward to the owners of the Tinian Dynasty or other possible developers re-opening the property. <\/p>\n
He said there are other investors looking at Tinian like the Tinian Entertainment Corp., the Bridge Investment Group, and the Alter City Group. <\/p>\n
\u201cI am aware of the plans\u2026we expect to have three hotels and casinos on the island,\u201d he said. <\/p>\n","protected":false},"excerpt":{"rendered":"
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