Currently reeling from the aftermath of Typhoon Souledor, stormy weather prevails for the casino scene in the Commonwealth of Northern Marianas Islands, a US territory in the Pacific. Best Sunshine International, the Macau junket linked gaming license holder for Saipan, CNMI’s largest island, has promised a $7.1 billion integrated resort and so far delivered a casino in a shopping mall. The casino on neighboring Tinian has been assessed $78 million in fines and forfeitures for violating US anti-laundering regulations, which may dampen the enthusiasm of casino investors viewing CNMI as not just an idyllic tropical setting to lure mainland Chinese tourists but a regulatory no man’s land, with weak local authorities and Uncle Sam far away.
Best known for World War II battle between US and Japanese forces, Saipan legalized casinos last year and took bids for a $2 billion integrated resort, there were plenty of questions about the process and prospects. Tinian Dynasty’s casino has struggled since opening in 1998, a casino on Rota, the smallest of the main islands, shut down within months of opening, and several other gaming licensees on those islands have, rather sensibly it seems, never put a spade in the ground.
Currently reeling from the aftermath of Typhoon Souledor, stormy weather prevails for the casino scene in the Commonwealth of Northern Marianas Islands, a US territory in the Pacific. Best Sunshine International, the Macau junket linked gaming license holder for Saipan, CNMI’s largest island, has promised a $7.1 billion integrated resort and so far delivered a casino in a shopping mall. The casino on neighboring Tinian has been assessed $78 million in fines and forfeitures for violating US anti-laundering regulations, which may dampen the enthusiasm of casino investors viewing CNMI as not just an idyllic tropical setting to lure mainland Chinese tourists but a regulatory no man’s land, with weak local authorities and Uncle Sam far away.Best known for World War II battle between US and Japanese forces, Saipan legalized casinos last year and took bids for a $2 billion integrated resort, there were plenty of questions about the process and prospects. Tinian Dynasty’s casino has struggled since opening in 1998, a casino on Rota, the smallest of the main islands, shut down within months of opening, and several other gaming licensees on those islands have, rather sensibly it seems, never put a spade in the ground.
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