IH Group’s president II Hwan Kim and vice president Edward Atalig Hocog Jr. have announced they are planning to construct a casino and hotel on the island of Rota with a price tag of $10 billion. The plans would take 10 years to come to fruition.
The IH Group sent a letter to Efram M. Atalig, the mayor of Rota, to discuss the project and after Kim is able to receive via waiver approval, he will be able to establish himself in Rota and then start the submission process for the project. Kim plans on proposing design plans as well as filing an application for license to be a casino operate as well as hotel operator in Rota.
According to Marianas Variety, Kim stated that if every step goes according to plan, groundbreaking as well as construction of the hotel facility will begin in 2017. Phase 1 will have a $1 billion price tag and includes the hotel and casino. The hotel will have 500 rooms and a vacation hotel will be placed on site with an additional 500 guest rooms as well as 100 cottages. Shopping venues will be located in the area as well as services for airlines and cruise ships.
For the project, IH Group has partnered with the Island Paradise Hotel, KSA Corporation and IH Corporation.