IMPERIAL Pacific International did not make a payment on its outstanding obligations to the CNMI government on Dec. 30, 2023, the deadline set by the Commonwealth Casino Commission.
The commission, according to Vice Chairman Ralph S. Demapan, will issue anytime this week an official notice setting a revocation hearing for Jan. 31, 2024, on enforcement actions 2020-002 and 2020-003.
These enforcement actions pertain to IPI’s non-payment of the $15.5 million annual exclusive casino license fee and the $3.15 million regulatory fee for the years 2020, 2021, 2022 and 2023. IPI’s debts to the CNMI government now amount to over $62 million in casino license fees and $17.6 million in regulatory fees.
For his part, IPI Director How Yo Chi told the commissioners that IPI would file a motion to stay the revocation hearing.
Asked on Friday, Dec. 30, 2023, if IPI had made any payment or filed a motion to stay revocation, Chi said, “Nothing yet.”
Demapan said on Monday that if IPI had not made any payment, then “you can take it as that.”
Request for documents
In related news, the IPI director responded to Commission Chairman Edward C. Deleon Guerrero’s request for documents “proving” the casino operator’s suitability to retain an exclusive casino license.
Chi provided the commission a list of people currently associated with IPI.
He also informed the commission that the executive directors of IPI International Holdings Limited — IPI’s parent-company — are Teck Tien, Xu Zhongxiang and Chen Feng. The independent non-executive directors are Robert James Woolsey, Lum Pak Sum, Chee Wah and See Lee Seng.
To the best of his understanding, Chi told Deleon Guerrero that there are no ongoing criminal investigations or prior criminal convictions related to the parent company of IPI or its executives, directors and other officers.
Chi said IPI is 100% owned by Best Sunshine International Limited, which is 100% owned by IPI International Holdings Limited, a publicly listed company traded on the Hong Kong Stock Exchange.
