Monday, July 22, 2024 - Login

Tinian Entertainment's license application deemed "substantially complete"


Tinian’s gaming commission has declared that Tinian Entertainment’s casino license application to operate the embattled Tinian Dynasty Hotel and Casino is substantially complete.

The license approval follows an agreement between Tinian Entertainment Co, the Tinian Casino Gaming Control Commission and Hong Kong Entertainment (Overseas) Investments Limited to proceed with transitioning control of the complex after HK Entertainment was in June fined $75 million by U.S. federal authorities for allegedly violating the country’s anti-money-laundering rules.

Tinian gaming commission executive director Lucia Blanco-Maritita wrote in a letter to the company that, “based on our review we deem the application of TEC to be substantially complete pursuant to the MOU dated July 1, 2015”.

This news came as a relief to Tinian Mayor Joey San Nicholas who has previously expressed his concerns over the Dynasty’s impending closure.

“It was inevitable that the hotel would all together close, once the casino operations closed. I hope that now that TEC’s application is finally deemed to be substantially complete, the investigation process can be expedited, so that if TEC is found to be a fit applicant, they can assume the operations of the casino.”

In her letter, Blanco-Maritita also stated that “TEC shall deposit with the [commission] additional refundable investigative funds in the amount of $100,000 no later than September 9, 2015.”

TEC has already submitted $100,000.

“If funds are not deposited by that date, the investigation will not commence and the MOU timelines will be impacted.”

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

Contact us

ASIA GAMING BRIEF
PO Box 1139, Macau SAR
Tel: +853 2871 7267
Fax: +853 2871 7264

Asia Gaming Brief