By Bryan Manabat
bryan@mvariety.com
Variety News Staff
2025 ended with Imperial Pacific International’s troubled casino assets under new ownership and Gov. David M. Apatang pushing legislation that could reshape the Commonwealth’s gaming industry by allowing multiple casino licenses.
Team King Investment (CNMI) LLC finalized its $12.95 million purchase of IPI’s Saipan assets in August, concluding years of bankruptcy proceedings. The acquisition secured control of the unfinished Garapan hotel tower and leasehold rights to nearly 20,000 square meters of land.
The deal marked a turning point for the project, but the new owner faces significant challenges, including stalled construction, regulatory uncertainty, and questions about financial viability.
IPI casino remains idle
IPI’s casino has remained closed since March 2020, when the Covid‑19 pandemic restrictions forced operations to halt. The half-built hotel continues to loom over Garapan, a stark symbol of stalled investment and ongoing regulatory disputes.
Team King has not announced a timeline for resuming construction or reopening the casino. Meanwhile, the Commonwealth Casino Commission has not clarified whether the suspended license can be transferred or reinstated.
Multiple licenses
Against this backdrop, Gov. Apatang proposed a new casino bill that would allow multiple licenses in the CNMI, effectively ending IPI’s monopoly.
Supporters say the measure could attract new investors, diversify the industry, and generate much-needed revenue for the government. Critics caution that expanding licenses without addressing regulatory and enforcement issues could repeat past mistakes.
Industry implications
Observers say the combination of Team King’s acquisition and Apatang’s legislative initiative signals a pivotal change for the CNMI’s gaming sector.
The fate of the Garapan casino will serve as a litmus test for foreign investment and regulatory oversight. It also underscores the delicate balance between economic development and community trust in the Commonwealth.
Bryan Manabat was a liberal arts student of Northern Marianas College where he also studied criminal justice. He is the recipient of the NMI Humanities Award as an Outstanding Teacher (Non-Classroom) in 2013, and has worked for the CNMI Motheread/Fatheread Literacy Program as lead facilitator.
