Former Sen. Diego M. Songao, chairman of the commission, said there were concerns regarding the $25 million minimum investment requirement.
“We are trying to be more flexible to meet the current economic hardship,” he said.
The commission, he said, will make other adjustments to the regulation to entice more investors.
The current rules call for a 150-room hotel.
“We might take that number out and leave that open to the investors,” Songao said.
If there is no investor willing to come in, he said they may invite government entities. He did not elaborate.
The proposed rules and regulations was first submitted for public comment in January.
They will be again subjected to a 30-day comment period starting next week after the commission finalizes the amendments.
Songao said the CNMI-Guam Visa Waiver program of the federalization law will affect the establishment of a casino industry on Rota.
The business, he said, will cater to clients from Russia and China, which are excluded from the visa waiver program.
For Rep. Victor B. Hocog, the casino industry is the “only hope” for Rota residents but the federalization law may hinder its development.
Hocog, Ind.-Rota, said some residents who have left the island are planning to come back to have gainful employment in the casino industry.
“But what Asian company can come and operate in casino with the federalization law taking effect on June 1?” he asked. “This will be another obstacle for struggling Rota residents.”
Hocog said he doubts if Asian investors will come to Rota under the federalization law, which imposes restrictions on the hiring of guest workers.
