Saipan is the second largest island within the Commonwealth of the Northern Mariana Islands (CNMI) and is a popular tourist spot. The CNMI recently approved an amendment submitted by the Imperial Pacific International Holdings Ltd, a Hong Kong based company requesting a modification on its initial casino license application.
Imperial Pacific wants to construct a temporary casino on the island of Saipan in the town of Garapan. The company was given approval bythe CNMI, construction work will begin immediately as Imperial Pacific would like to complete the project before the end of 2015. CNMI’s Casino Commission approved the new amendment and agree to the temporary casino proposal but will want to ensure all documentation has been submitted that meets the criteria of Saipan Casino Law.
Imperial Pacific still plans construction of a massive casino on the island that is estimated to cost around $7.1 billion. The first phase of the Grand Mariana Casino & Hotel Resort project is expected to be completed in 2016. .
Imperial Pacific is also an investor in the profit stream of Macau junket firm Hengsheng Group. The company has been aggressive in its fund raising campaign and has brought in over $100 million so far.