The Tinian Casino Gaming Control Commission said the company tasked to review Mega Stars Overseas Ltd.\u2019s license application to take over and operate Tinian Dynasty Hotel and Casino will have 120 days to complete the investigation.<\/p>\n
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.<\/p>\n
The next step in the casino license application process is for the TCGCC and Gaming Integrated Services to review Mega Stars\u2019 application.<\/p>\n
Blanco-Maratita said entire review process could take up to four months.<\/p>\n
\u201cThe 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\u2019re not on that stage and the 120 days has not started yet.\u201d<\/p>\n
TCGCC contracted Gaming Integrated Services specifically to review the Hong Kong-based company\u2019s application for a casino license related to its take over of Tinian Dynasty.<\/p>\n
Mega Stars chief executive officer Cario Hon confirmed that their company submitted the additional documents the TCGCC asked for. <\/p>\n
He said it\u2019s now up to the island of Tinian\u2014the TCGCC, the Tinian Mayor\u2019s Office, and the people of Tinian\u2014whether their planned investment in Tinian Dynasty pushes through.<\/p>\n
\u201cEverything depends on the people of Tinian or those who work for the TGCC or the mayor\u2019s office. If they want they can make it [application] fast or not, it\u2019s their choice\u2026If they think we\u2019re good for the island, they shouldn\u2019t give investors a long time to wait. We can\u2019t control [the situation]; we\u2019re not the government.\u201d<\/p>\n
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.<\/p>\n
\u201cSince coming here we\u2019ve followed all the instructions, we followed the law, paid up the money, and did everything. We didn\u2019t apply for a license. We just bought the shares of the company. We didn\u2019t apply for a [casino] license on Tinian. Everyone\u2019s working there as before. The managers are there and the dealers are there. Everything\u2019s 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.\u201d<\/p>\n
Kwan is the chairman of Hong Kong Entertainment Overseas Ltd., the current owner of Tinian Dynasty. <\/p>\n
Last May 23, TCGCC returned Mega Stars\u2019 application by a 4-0 vote, citing the investor\u2019s failure to execute the proper forms necessary as part of the application process.<\/p>\n
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\u2019s Kastiyu Plateau.<\/p>\n
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.<\/p>\n","protected":false},"excerpt":{"rendered":"
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