Saturday, August 13, 2022

Best Sunshine is financially able, says CNMI casino commission


Imperial Pacific, operator of Best Sunshine International, has been deemed financially able to complete construction of its $500 million Grand Mariana Casino Project in Garapan, according to local media sourced from the Commonwealth Casino Commission.

The commission reportedly met with Best Sunshine executives to access its ability to complete the $500 million project on Jan. 22. “The info we had previously was that the Grand Mariana project would cost $500 million or more with the construction of 374 hotel rooms,” said Edward Deleon Guerrero, Executive Director of the Commonwealth Casino Commission. “We were interested in seeing their financial records and finding out if it could substantiate their plans and how they intend to complete the construction of the facility. We requested some financial documents and we went over their finances to make sure that Imperial Pacific is financially able to compete the project.”

“They have provided us with documents and our auditors are going over these reports and to date Imperial Pacific has shown that it has increased its solid financial position to complete the project. We went over their various financial records of investments and our finding is that they are financially able and capable of moving forward with this $500 million construction project.”

The commission met with Best Sunshine chief executive officer, Mark Brown, chief financial officer Jerry Xie and legal counsel Viola Alepuyo to provide updates on the Saipan development project.

 

When asked about the number of VIP rooms, BSI officials estimated VIP tables will be roughly 40 percent of all tables. Brown also mentioned they have met the local workforce requirement, where 65 percent of their staff are local / U.S. workers.

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

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