Thursday, October 29, 2020
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Australia turns up the heat on gambling companies

Australia is again turning up the heat on gambling companies, this time with a bill that will make them responsible to compensate victims of players who used funds obtained illegally.

Aquis says operating cash flow positive, business strong

Aquis Entertainment said its operating cash flow in the recent quarter was positive and although visitation is down, business is strong. It has now also recalled most of the staff laid off during the Covid-19-mandated closures.
IPI hotel construction hits a wall

IPI hotel construction hits a wall

The Commonwealth of the Northern Mariana Islands Department of Public Works (DPW) has informed Imperial Pacific International (IPI) that its hotel and casino project in Garapan, Saipan, is in violation of the Building Safety Code and must come to an immediate halt.

Saipan legislator pushes for clarity on missing IPI papers

Saipan representative Tina Sablan is pushing for further clarity as to why Imperial Pacific International has been allowed to proceed with its construction project without approved documents. Her call came after the Department of Public Works admitted it had been trying to get the papers for at least a year. 

Revealed that IPI filed no approved resort construction plan

In the latest twist in the Imperial Pacific International saga, it has been revealed that the local authorities allowed construction of the Saipan casino resort without providing approved construction plans.

Crown outlook revised to negative by Fitch on probes

Fitch Ratings has revised its ratings outlook on Crown Resorts to negative from stable due to ongoing regulatory probes, but said it doesn't think the operator will lose its license.

Covid reignites Christmas island casino debate

Covid-19 has sparked a tourism boom for the Christmas as Cocos Islands as they form part of Western Australia's travel bubble and the increased visitation has reignited debate as to whether to resurrect the islands' only casino resort.

IPI opposes efforts to auction assets

Imperial Pacific International (CNMI) LLC is opposing Pacific Rim Land Development LLC’s request for an order authorizing the contractor to auction off IPI’s gaming machines and vehicles, saying a better option is for an investor to depost the money in a CNMI bank account.
Crown Resorts

Packer protects Crown board from shareholder ire

Billionaire James Packer used his 36 percent share to protect the board of Crown Resorts and to largely save it from immediate accountability in the face of the dissatisfaction of many smaller shareholders.

IPI accused of building code violations in casino resort construction

The Building Safety Code Division of the CNMI Department of Public Works recently notified Imperial Pacific International about alleged IPI violations pertaining to the ongoing construction of its casino resort.

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