IMPERIAL Pacific International said it can prevent the reduction in force that the administration has to implement due to lack of government revenue.
In his letter to the Legislature, IPI Chief Executive Officer Ray N. Yumul said the CNMI government needs $5,688,239 so it can continue employing 180 government personnel.
IPI, he said, can pay $5.7 million for its annual exclusive casino license fee, which is supposed to be $15.5 million a year.
Yumul said reducing the fee to $5.7 million for years 2020 and 2021 can “assist the government’s need for funds.”
The Covid-19 pandemic, he added, has caused dramatic and severe reduction in tourism-related economic activities resulting in revenue loss.
“The governor has taken a well-founded step by informing the Legislature of a looming [reduction in force],” he said.
Perhaps, he added, “many more may succumb if no new economic activity develops as the year progresses on.”
But to help 180 government employees who are facing unemployment, he said IPI “would like to offer a beneficial solution by paying a portion of the annual license fee fully knowing that casino operations will not be possible for this licensed period.”
