Hong Kong based Imperial Pacific International Holdings is looking for an investor to pump in $550 million into its subsidiary Best Sunshine International which is responsible for building the Grand Mariana Casino and Hotel in Saipan but at the same time, Best Sunshine has filed a report stating that it’s temporary casino had generated $2 billion from its VIP gambling revenue each month during the first quarter of 2016.
There was some conflict over the future of the VIP revenue that the temporary casino would generate as in the same report, Best Sunshine had stated that the VIP market segment had already become saturated and would struggle to grow. However Matt Brown, the CEO of Best Sunshine shed more light on the statement and confirmed that the VIP business was continuing to do well.
Brown revealed that the statement was filed in the report because the company Best Sunshine was overwhelmed with the amount of revenue the VIP market segment was generating and wanted to be cautious as they were not certain when VIP revenues would start to decline.
The Saipan casino located in the Northern Mariana Islands and part of the commonwealth of the United States continues to draw VIP gamblers especially from Mainland China. While most VIP gamblers are used to the experience of staying in 5 star hotel located near the casino, Brown and his temporary casino have chosen to innovate and provide VIP gamblers with a different style of accommodation.
Since the Grand Mariana Casino and Hotel is not yet completed, Brown is putting up his VIP clientele in a 5 room villa or on a yacht and states that his clientele absolutely love the different experience and the lack of a 5 star hotel is actually working in favour of the temporary casino.
In a statement, Brown said “VIPs love going fishing, they love going out on the boat, they love staying on the yacht. They love staying up in the villa and just having that treatment of dinner.” He believes that they would not be doing such great business if they offered the usual 5 star VIP hotel experience.
U.S lawmakers are continuing to keep a watchful eye on casino operators in the Northern Mariana Islands to see that no money laundering takes place. While VIP gamblers have chosen to stay away from Macau’s casinos due to the anti-corruption crackdown, they have not had any problem travelling to Saipan as the extra scrutiny by the authorities according to Brown has had a positive impact on VIP gamblers.
Brown stated that VIP gamblers now feel safer to bring their family over and know that they will not get robbed at the casino while playing baccarat as all the nine favorable cards will be in the deck.