The sole exclusive casino licensee on Saipan in the Northern Marianas wants its annual casino licence fee cut in half because of the Covid-19 pandemic.
Under the Casino Licence Agreement, Imperial Pacific International is required to pay $US15 million as an annual casino licence fee and contribute $US20 million a year towards the community benefit fund.
Photo: RNZ/Mark Rabago
Imperial Pacific International now wants several amendments.
They include an extension of the deadlines to complete the construction of the Imperial Palace Resort in Garapan and its other projects and to change the community benefit fund into a percentage of its net profit instead of a flat amount.
The resort on Garapan was due for completion next February, but the compay now wants a deadline of February 2022.