By a unanimous vote, the four-member Lottery Commission approved Wednesday afternoon what they considered as a “final draft” of the Saipan casino development agreement, and is now up to Best Sunshine International Ltd.’s parent company Imperial Pacific to accept or reject it. The deal could involve over $3 billion in investment, much more than the minimum $2 billion required by law.<\/p>\n
If the proposed casino agreement is acceptable to Imperial Pacific, then the signing of the final agreement will immediately follow.<\/p>\n
That would also pave the way for the release of the $30 million in escrow, which will be used to pay retirees’ deferred 25 percent pension and interest on defined benefit plan members’ withdrawn contributions.<\/p>\n
Commission chair Sixto Igisomar and commissioner Larrisa Larson said they expect Best Sunshine to communicate with them in the next few days.<\/p>\n
If all goes well, Best Sunshine could soon start working on construction aspects of an exclusive integrated casino resort on Saipan.<\/p>\n
Full story on Thursday’s paper. <\/p>\n","protected":false},"excerpt":{"rendered":"
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