The Tinian Dynasty Hotel And Casino, which has been closed since early-March, could soon have a new owner with at least five groups now reportedly interested in taking over the shuttered property.
The 412-room property in the Commonwealth Of The Northern Mariana Islands (CNMI) was “temporarily” shut due to a lack of visitor numbers and the lasting effects of Typhoon Souledor, but was due to re-commence operations last month. However, parent firm Hong Kong Entertainment failed to meet the projected deadline, which saw Tinian Mayor Joey Patrick San Nicolas to travel to China in search of new investors.
Following consultations with firms including Chinese Strategic, Mega Stars, Bridge Investment Group and Alter City Group, San Nicolas stated that at least one investor had expressed serious interest in working with the Tinian Casino Gaming Control Commission to be able meet requirements to assume ownership of the property.
“Since my meeting in Hong Kong, this investor has visited Tinian and has begun discussions with the Tinian Casino Gaming Control Commission to begin their application process and it is my understanding that the investigation of the applicant will begin shortly,” said San Nicolas in a press release.
“In these discussions, the investor also disclosed how he intends to address the outstanding liabilities, which include the FINCEN fines, and moneys owed to the employees and vendors. I am cautiously optimistic that we will see the Dynasty doors open sometime later this year if not early next year.”