Commonwealth Casino Commission executive director Andrew Yeom disclosed yesterday at a House Gaming Committee meeting that there are legitimate inquiries from potential bidders for a Saipan casino license in the event Imperial Pacific International (CNMI) LLC\u2019s license is revoked. <\/p>\n
In response to Gaming Committee vice chair Rep. Christina E. Sablan\u2019s (D-Saipan) question if he or the CCC has been approached by potential bidders for casino license, Yeom confirmed that he is getting inquiries. <\/p>\n
\u201cI cannot tell you who, how many. But yes,\u201d Yeom said. <\/p>\n
Sablan asked if they are deemed legitimate inquiries, to which Yeom replied, \u201cYes,\u201d but that he can\u2019t release more details as it\u2019s too sensitive to talk about. <\/p>\n
When asked if he has already shared information about potential casino bidders with Gov. Ralph DLG Torres, Yeom said, \u201cNo.\u201d He explained that he cannot be talking about the matter as IPI is still in play and it would be unethical for him to do so.<\/p>\n
He admitted, though, he shared the information with the commissioners and others at CCC in order to instill a certain sense of confidence that this casino industry can exist or can continue if they do it correctly.<\/p>\n
Yeom said their motivation is to go with the current licensee, IPI, and have it come into complete compliance and resolve all its issues. If that doesn\u2019t happen, then they will go to the next level of possibly revoking IPI\u2019s license, he added.<\/p>\n
\u201cI can comfortably tell you that there are bidders out there, whether legit or not. Yes, there are some legit ones. And I\u2019ll stop at that,\u201d Yeom said.<\/p>\n
If all of IPI\u2019s assets are liquidated, what will CCC do with the IPI casino\/resort building in Garapan? Yeom said it all depends on whether IPI\u2019s casino license is going to be revoked or not. <\/p>\n
He said it is up to the Legislature whether they will pass another bill to allow multiple Saipan casino licenses at this point.<\/p>\n
\u201cWhether you want to just kill the industry altogether, that\u2019s up to you,\u201d he added. <\/p>\n
Rep. Vicente Camacho (D-Saipan) said nobody really knows what to do with the unfinished IPI building, to which Yeom said that a new investor will probably have to buy the IPI building.<\/p>\n
\u201cThere\u2019s just no solution for that building. \u2026I don\u2019t know if anybody want to buy that building, it would be too expensive to fix it up,\u201d Camacho said. \u201cI think we should just kill it, and then we dynamite it,\u201d then build a memorial for ancient burials at the site.<\/p>\n
If and when the IPI license is revoked, is CCC going to play any role, Sablan asked. \u201cOr are you doing anything now to examine the future of the industry for the Commonwealth and to assist the policy makers in determining what\u2019s possible, what\u2019s viable? What are options might be? Does the CCC have any role to play in that?\u201d <\/p>\n
Yeom said Public Law 21-38 gives CCC the power to issue the license. \u201cIf the license is revoked, certainly we have a role in this,\u201d said Yeom, who then stated that he can\u2019t get into hypotheticals now. <\/p>\n
Sablan said even if IPI by some miracle comes into compliance and pay everything that they owe, there is still questions about the future viability of this industry.<\/p>\n","protected":false},"excerpt":{"rendered":"
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