Operator News
Saipan – Best Sunshine awarded casino licence
By Lewis - 16 July 2014
Saipan’s CNMI Lottery Commission yesterday voted unanimously to grant a conditional license to develop a $2bn integrated casino resort on Saipan to Best Sunshine International, a subsidiary of Hong Kong-listed Imperial Pacific International Holdings Ltd.
The approval is conditional upon the commission and Hong Kong-based Best Sunshine’s clarification of the casino development agreement. Representatives of Best Sunshine must now meet and discuss with officials of the Lottery Commission in order to finalise the terms and conditions for the award of the casino licence.
The commission’s two U.S.-based consultants that investigated and reviewed the applications—The Innovation Group of Companies and B2G Global Strategies—recommended Best Sunshine for license consideration over Marianas Stars. Marianas Stars Entertainment obtained a restraining order to stop the vetting process before the CNMI Superior Court eventually lifted it. Best Sunshine was chosen on a vote of 4-0 by the commission’s consultants.
Best Sunshine COO Terence Tay said he is both overjoyed and overwhelmed after learning of his company’s winning bid, adding that they have put in a lot of work in the application process. Marianas Stars consultant Sean King, for his part, said they’re disappointed with the outcome but that the company can now move on and make sure that Tinian Dynasty Hotel & Casino stays economically viable in light of an exclusive casino license on Saipan.
Best Sunshine shall make an initial investment of at least US$2 billion to build a multi-phase casino resort with 2,000 rooms. The company plans to build four luxury hotels, which will include “both private gaming rooms and public facilities”, Imperial Pacific had said in previous filings. Imperial Pacific had during the bidding process that it would distribute cash vouchers totalling US$10m among all locally born adults in Saipan if it won a casino licence there.
