Alfred Yue, managing director of Tinian Dynasty Hotel & Casino, yesterday said they have also heard about the buyout rumor.
“But it’s not true,” he told Variety in an e-mail yesterday, adding that “if ever such a decision is made” the company will make an announcement.
He earlier said that some Korean companies were interested in acquiring the hotel but no concrete offer had been made.
Due to the CNMI’s worsening economic situation, Tinian Dynasty’s management decided to enforce internal austerity measures, including work-hour reduction and minimizing the casino floor area to cut utility costs.
Tinian Dynasty remits a portion of its revenues to the island’s gaming commission to pay the salaries of its employees.
Tinian Mayor Jose P. San Nicolas yesterday said Dynasty has to inform the Tinian gaming commission if there is a change of ownership.
It was the commission that issued Dynasty’s license in 1998.
“Any plan or proposal regarding a change in ownership or improvements on the existing casino operation of Tinian Dynasty must be reported first to the commission for approval,” the mayor said.
San Nicolas expressed optimism that the Dynasty will fulfill its commitment to do business on Tinian.
